Other Inspections/Disclosures
Seller's Property Disclosure
W F Snyder Company will provide the customary form used for disclosure
as part of our service to seller clients.
A disclosure statement discloses defects in the condition of the property actually
known by the seller.
Because the seller could be held monetarily liable to the buyer for
an incorrect answer on the disclosure statement, a lot of sellers opt to provide
a disclaimer statement with a further recommendation that a buyer obtain a professional
home inspection. In these cases, the sellers are not trying to hide anything,
they're just not qualified to answer all the questions on the disclosure statement.
Septic and Well Inspections
In Georgia, if the seller is not on public water and sewer, the seller
may be required by to have an inspection of these items (at the seller's
cost) by a professional. These inspections may be done by private companies.
The report is provided to the buyer at settlement.
Termite Inspections
In Georgia, new GAR purchase agreements now provide an election for
the buyer to receive a termite report that has been issued on the property
within 180 days of the binding agreement date. as such, Sellers are now
getting their homes inspected at the time of the listing. The new provision
gives buyers more disclosure about pest conditions at the time an offer
is made and accepted rather than be handed a pest letter at the closing
table only to find the inspection report to be unacceptable at the last
minute. The seller (at his cost) must additionally have a termite inspection
within 30 days of settlement and bring this report to closing. Should termites
be discovered anywhere on the property, the seller must have them treated
(again, at his cost). Buyers can recind their agreement if the initial
pest letter is unacceptable.
Homeowners' Associations and Condominiums/Cooperatives
Sellers whose properties are either a condominium, cooperative, or have
a homeowners association should provide to the buyers before or after ratification
of the contract all documents (by-laws, covenants, resolutions, amendments,
restrictions, rules, regulations, statement of financial assets/liabilities,
etc.) of said association. It would be prudent for the buyer to add a contingency
to the purchase contract that; should the buyer discover something within
the documents that can't be lived with, the contract can be voided.
For general information, please send e-mail to:
Realestate@wfsnyder.com
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