Are you ready to sell your home in Georgia? Are you planning on buying soon? If so, one of the elements you need to know about is disclosures.
Real estate disclosures aim to ensure that potential buyers fully understand the property’s condition before entering an offer. In most cases, if there’s a defect a buyer would not find out about in an inspection, the seller, broker or real estate agent is required to disclose it. However, there are some exceptions.
Disease and death disclosures required of the seller
According to Georgia law, sellers are not required to voluntarily tell a potential buyer about a death on the property. Additionally, sellers don’t have to disclose if someone experienced a disease while living there.
While this is true, if a potential buyer asks about these things, it’s required that a seller answer honestly and to the best of their knowledge.
Buyers always need to beware
If you are planning to buy a home in Georgia, it’s important to know what is required to be disclosed and what isn’t. This would allow you to ask specific questions regarding issues with the property, including if someone died or had a disease while living there. Remember, a home inspection will only disclose issues with the house’s main systems, such as the plumbing, roofing, electrical and others. If you want to know other types of information, you will have to ask. If you discover the seller was dishonest after asking, you can file a suit against them.
Both buyers and sellers need to understand the required property disclosures when selling or buying real estate in Georgia. It’s also wise to know your legal rights regarding these disclosures.