![]() Since personal objections to title do not constitute valid legal objections to title, they must be raised during due diligence rather than relying on any marketability clause contained in the purchase and sale agreement. While the terms can vary greatly, in Georgia, a typical homebuyer will close in 30 to 45 days from contract.Īny time property is being acquired for a specific purpose, it is important to obtain and review the title work during the due diligence period. The purchase and sale agreement is a necessary beginning point since the statute of frauds requires sales contracts involving land to be in writing. Once a property has been selected, a sales contract will be signed by the buyer and seller memorializing the terms of the agreement. call for specific quality of title at closing (such as General Warranty Deed ). ![]() buyer's "free look" or due diligence period.The contract should contain, at a minimum, the following basic terms. If you are not working with a real estate agent, (transactions that are "For Sale By Owner" for example), we can assist in the preparation of your purchase and sale agreement.Įxecution of a sales contract is the first formal stage in purchasing a property after one has been selected. We work with both unrepresented parties as well as those who are working with real estate agents. Georgia licensees use the Georgia Association of Realtors contract forms ("GAR" forms). ![]() Ideally, a contract should be prepared by a Georgia real estate attorney or a Georgia real estate broker or licensee. Instead, the agreement should be seen as a framework for setting the expectations of a buyer and seller in the purchase process. A purchase and sale agreement should not be seen as an intimidating document full of legalese.
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