ClickCease

64. Real Estate Disclosures – What You Have to Share Legally in Georgia

We buy properties in GeorgiaWe Buy Houses in Georgia. We are homebuyers in GA, and we offer cash for houses in Georgia. Real estate disclosures come with many questions for both a buyer and a seller. Our rule of thumb? Be as open and honest as possible. In our latest post, we will cover what you need to disclose by law.

Real Estate Disclosures – What You Have to Share Legally in Georgia

Being an open and honest seller will not only help you avoid a lawsuit, but it will also make you a trustworthy, stand-up, all-around person. Hiding defects, looming repairs, and any other issues with the home in Georgia will only come back to bite you in the end, whether through a lawsuit or good ol’ karma… if you believe in that sort of thing.

Most Real Estate Lawsuits in Georgia Occur Because of Non-Disclosure

So, exactly how much are you required to disclose legally? Basically, anything that can affect the value of the property. Here are just a few of the things you should address:

  • Sell your house in GAIssues with the land, such as drainage, bad soil, and potential for flooding. Bad soil can limit building and low-lying areas can be prone to flooding and water damage.
  • Foundation level and known cracks must be disclosed. If the house settles more than it already has, it could experience structural damage.
  • Plumbing problems, sewer issues, and leaky pipes all need to be brought to the forefront. Some of the most expensive home repairs stem from water damage.
  • Any problems or irregularities with the heating and cooling systems should be addressed.
  • If you have a problem with cockroaches, rats, ants, termites, or moles, you will need to inform your potential buyer.
  • Have a leaky roof or missing shingles? Tell your buyer before they find out during a rainstorm.
  • Lead paint is a no-brainer. This disclosure is one of the most common you will see with home sales and rentals.
  • Are there issues that will affect the title? Or rightful ownership? This needs to be spelled out up front, not during the closing process.
  • You should also have documentation for repairs and insurance claims you’ve made in the past. You should be able to describe what was done and the materials used.

Additionally, some states will require more in-depth disclosure of hazard zones, which include flooding, earthquakes, and other environmental factors affecting the land. Some states will also require any violent crimes committed in the home be common knowledge. Not every state requires this, but it is a good rule of thumb to follow. Think about what you would want to know if you were buying a home for yourself in Georgia!

Disclosures Help a Buyer Learn About a House in GA

Disclosures help a buyer learn as much as possible about a house before making their purchase. You are selling a great home, right? When you keep something to yourself, a needed minor repair can snowball in much bigger problems. Many properties in Georgia have something pop up during the inspection that the seller wasn’t prepared for. Imagine, your asking price was slashed because of a defect you were unaware of. Your house is a multi-faceted machine. Many sellers choose to have their home inspected prior to a sale. This allows them to make the necessary repairs ahead of time, lessening the potential buyer’s bargaining ability. An inspection will also show good faith in selling. You are telling the world you want your home to be in the greatest possible condition before it is sold.

Homebuyers in GeorgiaDisclosure rules vary from state to state. Your agent, attorney, or broker will be able to supply you a checklist that covers the requirements for your state. Review the list in its entirety and add as many detailed notes as possible. Don’t forget to include the dates of upgrades and repairs. Fill out the form as honestly and as completely as possible. If you have questions, it is best to talk to a lawyer instead of your agent. Your agent might avoid such questions as they are out of their scope, and they want to lessen their liability.

Dishonesty Will Get You Sued in Georgia

Remember, YOU CAN GET SUED for being dishonest. And if you are found liable, you will need to pay for repairs, legal expenses, and punitive damages, and in some cases, the sale can be rescinded. Make sure you are working with a trusted professional in Georgia to help guide you through real estate disclosures.

Sell My House in GA

If you think you need to sell your house in Georgia, call us. We are your local GA home buyers and we can help you.

Are you selling your home in Georgia? If you have questions, we have answers! Fill out this form or give our office a call now! (706) 751-5085

Get More Info On Options To Sell Your Home...

Selling a property in today's market can be confusing. Connect with us or submit your info below and we'll help guide you through your options.

Don't Miss Out On Your Cash Offer!
Get Started Now

Start below by giving us a bit of information about your property or call (706) 751-5085, because your fee cash offer is waiting for you.
  • This field is for validation purposes and should be left unchanged.