to get the word out, then you're losing valuable exposure. And if your agent isn't familiar with the local market, well... that's like putting your house on the shelf and hoping someone finds it by chance. It's critical that your agent has a proven plan to market your home effectively. Now, let’s talk about disclosures, specifically focusing on one very important type: latent defects. A latent defect is a problem with the property that isn’t visible or easily discovered — think structural damage, hidden water leaks, or foundation issues that can only be detected through a more thorough investigation. In Georgia, a seller isn’t required to fill out a disclosure form, but it’s highly recommended for transparency. However, when it comes to latent defects, disclosure is not optional. Full disclosure of these hidden issues, like structural damage or water leaks, is required. Failing to disclose latent defects can lead to serious legal problems down the line. If you’re aware of any latent defects, even if they aren’t obvious to the buyer, you are legally obligated to disclose them. The same goes for your agent; if they know about any latent defects, they have a responsibility to disclose them as well. Failing to do so isn’t just poor practice; it’s illegal. If a buyer later discovers an undisclosed hidden issue, they can back out of the deal and may even sue for damages. Here’s another thing: offers. In Georgia, buyers often submit offers that come with contingencies, these are conditions that must be met before the sale can go through, such as a satisfactory inspection, financing approval, or appraisal. It’s important that you and your agent carefully review the contingencies in any offer you receive. Sometimes, contingencies can be a reason to negotiate or adjust the terms, but it’s not a decision to make lightly. A good agent will help you navigate these details and make sure everything is clearly addressed. It’s about understanding the offer, the contingencies, making sure you’re comfortable moving forward, and always staying informed.
5
Powered by FlippingBook