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Real property

property disclosure statement

A property disclosure statement is a written document provided by a seller of real property to the prospective buyer stating that the property has a material or significant problem or defect and disclosing the nature of the problem or defect—or stating the seller is unaware of any such problems or defects.

In Georgia, a property disclosure statement is not mandated by state law for residential real estate transactions. However, sellers are required to disclose any known material defects that could affect the value of the property. This requirement is based on the principle of 'caveat emptor' or 'buyer beware,' which places the onus on the buyer to perform due diligence. Despite the lack of a statutory requirement for a formal disclosure statement, many real estate transactions in Georgia do involve a voluntary disclosure form that sellers may use to inform buyers about the condition of the property. This form typically includes questions about the property's condition, including structural, mechanical, and environmental aspects. While not legally required, using a disclosure statement can help protect the seller from future legal action by providing evidence that they made the buyer aware of known issues with the property. It is advisable for buyers to request a disclosure and for sellers to provide one to ensure transparency and avoid potential disputes. An attorney can provide guidance on best practices for disclosures in real estate transactions in Georgia.

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Real property

property disclosure statement

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Real property

property disclosure statement

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