✏️ Editor’s Note: Realtor Associations, agents, and MLS’ have started implementing changes related to the NAR’s $418 million settlement. While home-sellers will likely save thousands in commission, compliance and litigation risks have significantly increased for sellers throughout the nation. Learn how NAR’s settlement affects home sellers.
95% of homebuyers discover issues with their properties after the closing process. 60% of sellers do not disclose defects in their homes to potential buyers. Hiding defects whether intentionally or not can lead to potential lawsuits in Missouri.
A seller disclosure is a document that informs the buyer about defects in a house. So you must fill this document accurately and honestly. It helps with offering legal protection, enhancing credibility, and reducing complications during the home inspection process.
If you wish to sell your home in the Peach State, enlist the help of a Flat Fee MLS service like Houzeo. Your home will be on the MLS in 24–48 hours. Houzeo automatically assigns the right disclosure paperwork which makes the selling process hassle-free.
- ✍️ Is Seller’s Disclosure Required in Georgia?
No, since Georgia is a “caveat emptor” state which means “let the buyer beware”. There is no mandatory disclosure form. However, you must disclose material defects that a home inspection wouldn’t reveal and answer buyer questions truthfully.
What Is a Seller’s Disclosure?
A seller’s disclosure is a legal document that homeowners must give to potential buyers. It contains information about the property’s condition, history, and any known issues that could impact its value or safety.
Moreover, seller disclosure ensures transparency in real estate transactions. It also helps to minimize legal risks and attract serious buyers. Overall, It makes the selling process smoother.
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What Do Georgians Have to Disclose When Selling Their House?
Here are the things you have to disclose while selling a house in Georgia:
- Lead-Based Paints: You need to provide information about lead-based paint if your property was built before 1978. The buyer has the right to inspect for lead-based paint.
- Structure & Appliances: This section details any leakage problems in the structure of your home. You have to mention whether your property’s HVAC, electrical, mechanical, sprinkler, or plumbing systems are up to date.
- Natural Hazard Disclosure: You should reveal if the property is located in an area prone to natural hazards. This information helps buyers assess potential risks associated with the property.
- Soil Boundaries: You have to disclose the history of foundation settlement due to soil conditions.
- Landfills and Graveyards: If your property is located near or on past landfills or graveyards, this information needs to be disclosed.
- Boundary Disputes: You must disclose if there are any ongoing legal disputes in the property’s boundaries.
- Termites, Pests and Wood Destroying Organisms: Termites, dry rot, and other pests can be classified as wood-destroying organisms (WDOs) and should be disclosed.
- Litigation and Insurance: You need to disclose past lawsuits or insurance claims. These are related to environmental issues or safety hazards on the property.
What Do Sellers Not Have to Disclose?
The following is the information you are not required to disclose as part of § 44-1-16 of Title 44, Chapter 1 of the Georgian Code:
- For failure to disclose that the property is occupied or was occupied by a person who was infected with a virus or any disease that is highly unlikely to be transmittable.
- Suicide, homicide, or death due to natural or accidental causes unrelated to the property’s condition.
Consequences of Lying on Georgia Seller’s Disclosure
You will face severe consequences if you lie on the Georgia Seller’s Disclosure Notice. Buyers receive accurate information about the property’s condition through this designed legal document.
If you state false or misleading information on the disclosure, you may face legal action from the buyer. You may face civil penalties, including fines if you fail to disclose known defects. Moreover, negligent misrepresentation or fraud claims may hold you liable.
Tips to Minimize Issues in Georgia Seller’s Disclosure Form
Here are the tips to save you from any legal issues:
- Complete a Pre-Sale Inspection: Before you sell your home, conduct a pre-sale home inspection. It will help you to identify and address issues. This helps build trust with potential buyers.
- Review the Sales Contract Carefully: Check provisions about seller disclosure in your contract. Failure to disclose can lead to legal issues and cause the sale to collapse.
- Document Everything: Keep records of any repairs, renovations, or maintenance done on the property. This paperwork is proof that you’ve dealt with known issues.
- Disclose Everything: To avoid problems in your home disclosure statement, disclose everything you know honestly. Even a minor issue could turn out to be important.
- Consult with Professionals: If you’re unsure about what needs to be disclosed, seek help from real estate attorneys. They are familiar with local laws and practices and can help you handle any issue.
Bottom Line
Transparency is key when filling out seller disclosure documents. It requires you to reveal known material defects in a property. However, providing false information on the form may lead to legal repercussions.
You can access all the seller disclosure forms on Houzeo. The platform has segregated all the disclosures state-wise, so you don’t have to hunt for Georgia seller disclosures separately.
» Houzeo Review: Find out why Houzeo is one of the best FSBO websites in the US.
Frequently Asked Questions
Are seller disclosures required in Georgia?
No, it is not mandated by law to fill the Seller Disclosure Statement Form but it is highly advisable to the seller to fill the form to avoid future legal repercussions.
Is Georgia a caveat-emptor state?
Yes, Georgia is a "buyer-beware state" wherein buyers on end conduct due diligence on the property.
Do you have to disclose a death in a house in Georgia?
No. Georgia law does not mandate disclosing previous death, homicide, or suicide on the property.
