|Considerations When Using GAR Exhibit – “Property Sold with Right to Request Repairs” The Georgia Association of REALTORS (GAR) F273 Exhibit – “Property Sold with Right to Request Repairs” has many issues to consider prior to a Buyer making a contract subject to this vs. having a Due Diligence period. In this competitive market, many buyers are using this Exhibit in place of Due Diligence to make their offer more attractive but please be mindful of the many questions this Exhibit leads to. Watch the Video for more information & issues to consider including WHAT HAPPENS TO THE EARNEST MONEY? |
Please watch the video on this but just some issues to keep in mind:
Earnest Money is not addressed so you must add a special stipulation regarding the disbursement of the Earnest Money of this contract terminates because Buyer & Seller can’t agree on an Amendment
Buyer may only ask for Seller to address “Defects” as defined in that Exhibit
If parties agree to address any issues financially, then in that Amendment, you must state that the Exhibit is no longer part of the contract
For information on “The Red Book” by Seth Weissman & Ned Blumenthal – Go to www.WeissmanLaw.com
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