Real Estate Sales Contracts
Description Real Estate Form
How to fill out Ga Real Estate Disclosure Form?
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Georgia Residential Disclosure Form popularity
Ga Real Disclosure Other Form Names
Georgia Disclosure Form FAQ
What Does a Seller Need to Disclose? Sellers need to disclose everything about the property from structural problems to deaths that have occurred on the property.
Sellers should disclose anything that required a permit in their home. These are usually significant items that should be disclosed. Examples include the heating system, air conditioning, the roof, or anything related to the plumbing or electrical systems.
Your state and local law will also have additional disclosure requirements. You can also ask a real estate agent or an attorney for a copy of the disclosure law. Your state's Department of Real Estate might also have information about what disclosures are required in your state.
The State of Georgia is a Buyer Beware State ~ the rule in Georgia is Caveat Emptor (let the buyer beware). It is a law that puts responsibility on the buyer to learn of any defects of the home.
But, there are 12 states that are still considered non-disclosure: Alaska, Idaho, Kansas, Louisiana, Mississippi, Missouri (some counties), Montana, New Mexico, North Dakota, Texas, Utah and Wyoming. In a non-disclosure state, transaction sale prices are not available to the public.
What Must You Disclose? There is no formal legal requirement in Georgia for a seller to fill out a disclosure form. But the seller does have to inform the buyer about any material defects. In this case something is considered material if the defect would cause a person to not buy the property or pay less for it.
Once you and the buyer have signed a written agreement for the sale of your property, you must deliver a copy of your completed disclosures to the buyer within five business days.
Sellers' Required Disclosures in Georgia Although Georgia's statutes do not require sellers to fill out a disclosure form, Georgia courts have stated that home sellers must inform buyer about any latent or known material (important) defects in the condition of the home.