Make Fillable Legal Georgia Option To Purchase Forms For Free

The main difference between purchase agreements and sales contracts is the order and timing of the offer and acceptance process. In a purchase agreement, the buyer makes the first offer and the seller responds, while in a sales contract, the seller makes the first offer and the buyer responds.

If the property inspection reveals any necessary repairs or other undesirable finds, the buyer normally has three options: terminate the contract and obtain their earnest money back, negotiate for repairs or a price change, or accept the property as-is.

In short, a Georgia real estate purchase agreement is a document that is signed by the buyer and the seller listing all the important details regarding the sale of a property in the state of Georgia, such as: Names, addresses, and phone numbers of both parties. The purchase price. A property disclosure statement.

A common situation involves the Amendment to Address Concerns (ATAC). Agents often add language to the ATAC that is intended to protect their buyers, but can result in an unintended termination: If the ATAC is not accepted, then the Seller is served Notice of Buyer's decision to terminate the contract.

An Agreement of Purchase and Sale is a written contract between a seller and a buyer for the purchase and sale of a particular property. In the Agreement, the buyer agrees to purchase the property for a certain price, provided that a number of terms and conditions are satisfied.

The Georgia Association of REALTORS®, Inc. (?GAR?) makes certain standard real estate forms available to its members. These GAR forms are frequently provided to the parties in real estate transactions by the REALTORS® with whom they are working.