When you a buy a house in Georgia, the law states that a seller must provide information about the physical condition of the home. This is usually done through an official seller’s disclosure statement. The paperwork is generally pretty long, and it may take a while to go over it, but it is important that you do and that you understand it. After all, it provides you with some of the most important information about your future home that you will need.
Know What to Expect From the Disclosure.
Your disclosure will almost always consist of a series of yes-no questions that the seller should answer to the best of his or her knowledge. If any answer requires more than a simple yes or no response, the seller must go into detail in writing or explain it verbally to the real estate agent who will put it into writing. In some cases, you may find attached important or legal documents that refer to any major issue the homeowner had, such as receipt from an electrician or a copy or a court case.
Be Prepared for Plenty of Information.
Your seller’s disclosure may be far more detailed than you expect. It might include information about everything from structural damage and remodeling to wildlife issues in the area and whether or not someone died on the property. If you ever have a question about anything in the disclosure, do not hesitate to talk to a trusted real estate agent about it.
Know What the Disclosure Omits.
In the state of Georgia, the seller is not required to disclose certain information unless the buyer asks about it. For example, if a sex offender lives next door or a murder took place in the home, the seller only has to confirm this information if asked. If you have heard a rumor about the neighborhood, you may want to make sure you ask about it. The same goes for obvious damage that you can see when you visit the home. If there is no grass in the yard or the kitchen floor has a huge burn in the middle, the seller is not required to provide that information.
Know What You Cannot Ask.
The Fair Housing Act prevents you from asking some questions about the former occupants. While it is OK to ask about crimes that took place in the home or the neighborhood, you cannot ask about any former resident’s race, nationality, religion, health, sex, familial status or color.
Never Let It Take the Place of an Inspection.
While the seller’s disclosure offers good information, it should never be your final indication of what is or isn’t wrong with a home. The seller only knows so much, and unfortunately, not all sellers are completely honest. An inspection can verify what the seller disclosed and provide you with information about issues he or she may have omitted or even issues the seller had no knowledge of.
If you need help understanding a seller’s disclosure or you are just in the market for a new home, contact Atlanta Fine Homes Sotheby’s International Realty today at 404.237.5000.