Updated April 15, 2024
A Georgia commercial real estate purchase and sale agreement legally binds a seller and a potential buyer together in commercial property transaction. The seller of the property will include in the agreement the sale price, earnest money, financing and deposit conditions, the condition of the property itself, brokerage engagement, default information, and closing date. The buyer will look over the agreement with their broker and, in most cases, an attorney practiced in commercial real estate law. The terms and conditions set forth in the agreement can be negotiated by the parties before the agreement is signed.
Disclosures
Agency Representation – All licensees must disclose to a prospective client the types of agency relationships available through the firm, any current conflicting relationships, compensation and sharing thereof, and confidentiality obligations.[1]
Transaction Broker – A transaction broker not representing either party must disclose all known adverse facts or latent conditions within a mile of the property.[2]
Realtor Version
Georgia Realtors – PDF
Residential Property
Georgia Residential Purchase Agreement – A legally binding contract between a buyer and a seller of residential real estate.
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