Sellers Guide | Sacha Rady, Engel and Völkers Atlanta

GETTING READY TO LIST

As one of the largest assets you have, selling your property for the highest price possible can have a significant impact on your future, including your ability to purchase your next home. The process can be an enjoyable one with a little preparation.

1

START THE PROCESS EARLY

Selling your home requires you to shift your perspective from that of a “homeowner” to a “home seller.” You’ll need to start thinking objectively and understand that you are selling a product.

2

FIND A REALTOR YOU CAN TRUST

Who you choose to partner with is one of the most important decisions you’ll make when selling your home, so finding the right person is essential. They are responsible for aggressively marketing your home, equipping you with the knowledge you need to make informed decisions, negotiating your deal, and guarding your interests.

GETTING READY TO LIST

UNDERSTAND THE REAL COSTS BEFORE YOU BEGIN

There are costs associated with selling your house including commissions to the real estate agent involved, costs associated with negotiating the sale, and any costs you may incur to fix issues that could come up during a buyer’s home inspection.

COMPLETE THOSE SIDE PROJECTS

First impressions matter – especially to prospective home buyers. The seemingly small issues with your home- like loose doorknobs, broken screen doors, and faulty drains will lead buyers to assume that disrepair carries over to larger items as well so get them squared away before going to market.

Curb appeal is crucial to a good first impression, so make sure your home’s lawn is immaculate. Mow the lawn, prune the bushes, weed the garden and plant flowers. A sloppy exterior will make buyers think you’ve slacked off on interior maintenance as well. Be sure to clean the gutters and pressure wash your home’s siding.

GETTING READY TO LIST

DECLUTTER AND NEUTRALIZE

Your personal preferences need to take a back seat for a bit while you “stage” your home to win over buyers. This doesn’t mean you need to give your home a total makeover or spend a fortune on new furniture, but you do need to create a space that is tasteful, clean, and neutral. You might like your lime green bedroom, but it may sour buyers. Paint your walls a neutral color that will appeal to a wide range of buyers.

Buyers want to envision their belongings in your home. Clean up by renting a storage unit for knick-knacks, photos, extra furniture and other personal items. Hide the litter box and spray air neutralizer throughout your home. When showing the home, fill it with inviting smells by putting out fresh flowers and baking a batch of cookies.

PRICE YOUR HOME ACCORDING TO THE MARKET

Selling your home for more than you bought it for is every homeowner’s dream, but it’s not a given. How much your home is worth and will actually sell for depends on the current market – not the price you paid for it or how big you’d like the return to be.

GETTING READY TO LIST

GETTING READY TO LIST

INVEST IN A PRE-LIST HOME INSPECTION

Typically, a serious buyer will pay to have a home formally inspected with a goal to uncover any potential problems before signing on the dotted line while there’s still time to negotiate. But sometimes, sellers will have their homes inspected before they even put them on the market.

A pre-inspection demonstrates a willingness to go beyond what’s expected, and that sets you apart from other sellers. You’re sending a signal that your house is an “open book,” and that you’re being upfront about the property. It can save you money in the long run, as a pre-inspection gives you (the seller) a heads-up if there are problems that a potential buyer will likely want repaired. Once you know what’s wrong, you can have those issues fixed before you list. The cleaner and more problem-free you can make your home, the faster it’s likely to sell.

Assuming you’re not trying to sell a fixer-upper, a pre-inspection can shine a spotlight on your home’s selling points, such as any electrical upgrades you might have had made. Conversely, if you’re trying to offload a fixer-upper that will undoubtedly require a significant amount of repair items, there’s no point in paying for a pre-inspection. As a seller, you also have the option to sell your property “AS IS.”

GETTING READY TO LIST

GET OUT OF THE HOUSE

Staying out of the house during showings and open houses is best for everyone. Prospective buyers are evaluating your home as a potential investment, and they’ll feel more comfortable exploring, speaking openly, and visualizing their life in the home without the seller hanging over their shoulder.

BE PREPARED FOR LOWBALL OFFERS

Any offer is a good offer because it shows interest versus other homes on the market and allows your real estate agent to have a meaningful discussion about the value of your home with other buyers’ real estate agent. A few low-ball offers doesn’t mean full or overasking price offers won’t come in. Generating offers early in the process is a good thing and pricing based on the market will effectively draw multiple prospects and bids at the right price.

LET YOUR AGENT DO THEIR JOB10

You hired your REALTOR® for their expertise and knowledge. Share your goals with them, work together to build a game plan to achieve those goals, and then trust them to get the job done. If you can support their strategy, have realistic expectations, and focus your emotional energy on finding your next dream home, you’ll experience much less stress and hopefully find joy in the entire process.

GETTING READY TO LIST

THE OVERALL STRATEGY

A home is often times the largest asset you have. You invested a large sum of your hard-earned money into it and the price you can fetch for your home can have a significant impact on your future, including your ability to purchase your next dream home.

It’s more than that- our homes are filled with memories, they serve as the backdrop of the families we’ve built, the Thanksgivings we’ve hosted, and the parties we’ve thrown. All of this adds up to an emotional attachment that can get the best of you, giving you a distorted perception of your home’s value.

When these emotions surface in the process of selling your home, they can have a very real and negative impact on your bottom line and your real estate agent’s ability to achieve the result you want. And of course, it can take its toll on you and make your selling experience downright miserable.

Despite what it sounds like, it is possible for selling your home to be enjoyable. Here are ten strategies we suggest that can help you not just “get through” the experience, but actually thrive and achieve your goals.

PREPARING TO SELL YOUR PROPERTY

10 STRATEGIES TO ACHIEVE YOUR GOALS

1

START THE PROCESS EARLY

Selling your home requires you to shift your perspective from that of a “homeowner” to a “home seller.” You’ll need to start thinking objectively and understand that you are selling a product. Give yourself a few months to get prepared and to separate your emotions, bias, and expectations from reality, or you’ll be fighting an uphill battle. Do some research, talk to other people who have sold homes, and figure out what your ultimate goals are so your real estate agent can build the right plan to get you there. For instance, is it more important that you sell your home within a certain time frame or that the home sells over a certain amount?

2

FIND A REALTOR YOU CAN TRUST

Who you choose to partner with is one of the most important decisions you’ll make when selling your home. Your real estate agent will either add to your stress or relieve you of it, so finding the right person is essential to your emotional and financial well-being. They are responsible for aggressively marketing your home, equipping you with the knowledge you need to make informed decisions, negotiating your deal, and guarding your interests. They run both your offense and defense. It is imperative that you partner with someone who not only specializes in selling homes, but who also has your best interests in mind.

3

UNDERSTAND THE REAL COSTS BEFORE YOU BEGIN

There are costs associated with selling your house including commissions to the real estate agent involved, costs associated with negotiating the sale, and any costs you may incur to fix issues that could come up during a buyer’s home inspection.

FIX THE LITTLE NAGGING THINGS

It’s time to address the side projects you’ve been avoiding. First impressions matter –especially to prospective home buyers. View your home through their lens. The seemingly small issues with your home- like loose door knobs, broken screen doors, and faulty drains will lead buyers to assume that disrepair carries over to larger items as well. Get rid of the mildew in the bathroom, clean the carpet’s mystery stains, and solve the odor in the basement, because buyers will most certainly notice.

PREPARING TO SELL YOUR PROPERTY

10 STRATEGIES TO ACHIEVE YOUR GOALS

DRESS YOUR HOME TO IMPRESS

Here’s the thing: clutter and loud, outdated decor are distractions for many buyers. Is it possible for them to see past your stuff and envision the place as their perfect dream home anyway? Yes. But your home will appeal to far more people and things will be a lot easier if you remove those hurdles. Your personal preferences need to take a back seat for a bit while you “stage” your home to win over buyers.

This doesn’t mean you need to give your home a total makeover or spend a fortune on new furniture, but you do need to create a space that is tasteful, clean, and neutral. Pack away the clutter, the personal items, and the collectibles sitting on your countertops. Replacing the “fun” hot pink walls, the scuff marks, and 90’s floral wallpaper with fresh, neutral colored paint will make a world of difference. Add some plants to give your home life (and improve your mood). Open the blinds, let the light in, and really- take down the plaid curtains.

PRICE YOUR HOME ACCORDING TO THE MARKET

Selling your home for more than you bought it for is every homeowner’s dream, but it’s not a given. How much your home is worth and will actually sell for depends on the current market – not the price you paid for it or how big you’d like the return to be. It takes a knowledgeable real estate agent with a deep understanding of the local market and current real estate trends to price your home correctly. Their expertise is critical to you achieving your goals and getting what your home is worth.

FOCUS EMOTIONAL ENERGY ON YOUR NEXT DREAM HO 7ME.

In the same way that a watched pot never boils, obsessing over the little details and metrics is not going to sell your home any faster. It is, however, the quickest way to drive yourself crazy. You should absolutely monitor how things are going and listen to feedback your real estate agent provides, but don’t get wrapped up in the minute details like how many people commented on the hardwood floors and whether or not you highlighted the “spa-like jacuzzi” in the listing description. Instead, redirect your emotional energy towards finding your next home.

SELL YOUR

10 STRATEGIES TO ACHIEVE YOUR GOALS

DEVELOP THICK SKIN... AND GET OUT OF THE HOUSE

Staying out of the house during showings and open houses is best for everyone. Prospective buyers are evaluating your home as a potential investment, and most come in with preconceived ideas of what the home should be. Don’t be surprised if buyers are hypercritical and pick apart even the most minuscule flaws. There will be others who leave quickly or without asking questions. It’s better for you to leave the house than to stick around and risk being disappointed, offended, defensive, or pushy. Your absence will be beneficial to buyers as well. They’ll feel more comfortable exploring, speaking openly, and visualizing their life in the home without the seller hanging over their shoulder.

BE PREPARED FOR LOWBALL OFFERS

Any offer is a good offer because it shows interest versus other homes on the market and allows your real estate agent to have a meaningful discussion about the value of your home with other buyers’ real estate agent. Besides, who wouldn’t want to get their home for a bargain? A few low-ball offers doesn’t mean full or over-asking price offers won’t come in. Generating offers early in the process is a good thing and pricing based on the market will effectively draw multiple prospects and bids at the right price.

LET YOUR AGENT DO THEIR JOB

Think of it this way: you are the team owner and your real estate agent is the coach. You hired them for their expertise and knowledge of the game. Share your goals with them, work together to build a game plan to achieve those goals, and then trust them to get the job done. If you can buy into their strategy, have realistic expectations, and focus your emotional energy on finding your next dream home, you’ll experience much less stress and hopefully find joy in the entire process

BENEFITS OF A PRE-LIST INSPECTION

Typically, a serious buyer will pay to have a home formally inspected. The goal is to uncover any potential problems before signing on the dotted line while there’s still time to negotiate. But sometimes, sellers will have their homes inspected before they even put them on the market. Here are three reasons why a pre-inspection may be a good idea.

It Shows Your Home Is An “Open Book”

A pre-inspection is a goodwill gesture. It demonstrates a willingness to go beyond what’s expected, and that sets you apart from other sellers. You’re sending a signal that your house is an “open book,” and that you’re being upfront about the property. All of this can give potential buyers peace of mind and confidence.

It can save you money in the long run. A pre-inspection gives you (the seller) a heads-up if there are problems that a potential buyer will likely want repaired. Once you know what’s wrong, you can have those issues fixed before you list. The cleaner and more problem-free you can make your home, the faster it’s likely to sell.

Because a pre-inspection lets buyers know what they’re getting from the beginning, they can factor any needed repairs into an offer.

On the other hand, let’s say you don’t have a pre-inspection. During escrow, if the buyer’s inspector discovers problems you didn’t know about, you can be sure the buyer will try to negotiate a lower price, which will cost you money and can delay the sale. The buyer might even cancel the contract.

It Can Highlight Your Home’s Assets

Assuming you’re not trying to sell a fixer-upper, a pre-inspection can shine a spotlight on your home’s selling points, such as any electrical upgrades you might have had made.

When Not To Have A Pre-Inspection

If you’re trying to offload a fixer-upper that will undoubtedly require a significant amount of repair items, there’s no point in paying for a pre-inspection. As a seller, you also have the option to sell your property “AS IS.”

Although Georgia law does not require a seller to fill out a specific disclosure form, the law does require a seller to inform a buyer about any known material (important) defects in the condition of the home, and the seller must honestly answer a buyer’s questions about the home.

Buyers might ask about anything from what repairs you’ve done in the past, to how your dealings with the neighbors have been. Attempting to confuse the buyer or purposefully be unclear can lead to lawsuits later, so it’s best to be honest and open.

Georgia courts have generally held that a defect is “material” if the buyer would consider it material; that is, if known to a prospective buyer, it would cause that person to not buy the property, or to pay less for it- such as, for instance, the fact that it was built on unstable ground.

As a general rule, in order to prevent later accusations of misrepresentation or fraud from a buyer, you should be up front, answer the buyer’s questions, and tell the buyer about any problems you are aware of regarding the condition of the home by filling out the Seller’s Property Disclosure Statement.

In addition to Georgia’s requirement that a seller must disclose any known defects in the home to a buyer, federal law has additional disclosure requirements. If you are selling a home built prior to 1978 (before entering into a purchase and sale agreement), you must disclose to the buyer any known lead-based paint hazards in the home.

If a seller fails to disclose important known facts about the condition of the house, the buyer may have a cause of action against you for fraud, misrepresentation, or breach of contract. If successful, the buyer may be entitled to rescind the contract (with rescission, the court attempts to put the parties involved back in the positions they were in prior to entering into the contract. For example, you’d be required to reimburse the buyer the price of the home plus expenses and you’d get the home back). Or the buyer might elect to receive damages- in which case, the buyer keeps the home, but you’d be required to compensate the buyer for its reduced value because of the defect or pay the costs of repairing the defect.

DISCLOSURE STATEMENENT

SELLER’S PROPERTY DISCLOSURE STATEMENT EXHIBIT “ ”

2021 Printing

This Seller’s Property Disclosure Statement (“Statement”) is an exhibit to the Purchase and Sale Agreement with an Offer Date of ________ for the Property (known as or located at: ____________ __________________________________, Georgia, _________________). This Statement is intended to make it easier for Seller to fulfill Seller’s legal duty to disclose hidden defects in the Property of which Seller is aware. Seller is obligated to disclose such defects even when the Property is being sold “as is.”

A. INSTRUCTIONS TO SELLER IN COMPLETING THIS STATEMENT.

In completing this Statement, Seller agrees to:

(1) answer all questions in reference to the Property and the improvements thereon;

(2) answer all questions fully, accurately and to the actual knowledge and belief of all Sellers;

(3) provide additional explanations to all “yes” answers in the corresponding Explanation section below each group of questions unless the “yes” answer is self evident;

(4) promptly revise the Statement if there are any material changes in the answers to any of the questions prior to closing and provide a copy of the same to the Buyer and any Broker involved in the transaction.

B. HOW THIS STATEMENT SHOULD BE USED BY BUYER. Caveat emptor or “buyer beware” is the law in Georgia. Buyer should conduct a thorough inspection of the Property. If Seller has not occupied the Property recently, Seller’s knowledge of the Property’s condition may be limited. Buyer is expected to use reasonable care to inspect the Property and confirm that is suitable for Buyer’s purposes. If an inspection of the Property reveals problems or areas of concern that would cause a reasonable Buyer to investigate further, Buyer should investigate further. A “yes” or “no” answer to a question means “yes” or “no” to the actual knowledge and belief of all Sellers of the Property

C. SELLER DISCLOSURES.

1. GENERAL:

(a) What year was the main residential dwelling constructed? _________________

(b) Is the Property vacant?

If yes, how long has it been since the Property has been occupied? ________________

(c) Is the Property or any portion thereof leased?

(d) Has the Property been designated as historic or in a historic district where permission must be received to make modifications and additions?

EXPLANATION:

2. COVENANTS, FEES, and ASSESSMENTS:

(a) Is the Property subject to a recorded Declaration of Covenants, Conditions, and Restrictions (“CC&Rs”) or other similar restrictions?

(b) Is the Property part of a condominium or community in which there is a community association?

IF YES, SELLER TO COMPLETE AND PROVIDE BUYER WITH A “COMMUNITY ASSOCIATION DISCLOSURE EXHIBIT” GAR F322

EXPLANATION:

3. LEAD BASED PAINT:

(a) Was any part of the residential dwelling on the Property or any painted component, fixture, or material used therein constructed or manufacture prior to 1978? IF YES, THE “LEAD BASED PAINT EXHIBIT” GAR F316 MUST BE EXECUTED BY THE PARTIES AND THE “LEAD BASED PAINT PAMPHLET” GAR CB04 MUST BE PROVIDED TO THE BUYER.

YES NO

YES NO

YES NO

THIS FORM IS COPYRIGHTED AND MAY ONLY BE USED IN REAL ESTATE TRANSACTIONS IN WHICH _____________________________ IS INVOLVED AS A REAL ESTATE LICENSEE. UNAUTHORIZED USE OF THE FORM MAY RESULT IN LEGAL SANCTIONS BEING BROUGHT AGAINST THE USER AND SHOULD BE REPORTED TO THE GEORGIA ASSOCIATION OF REALTORS® AT (770) 451 1831.

01/01/21

Copyright© 2021 by Georgia Association of REALTORS®, Inc

YES NO

4. STRUCTURAL ITEMS, ADDITIONS AND ALTERATIONS:

(a) Has there been any settling, movement, cracking or breakage of the foundations or structural supports of the improvements?

(b) Have any structural reinforcements or supports been added?

(c) Have there been any additions, structural changes, or any other major alterations to the original improvements or Property, including without limitation pools, carports or storage buildings?

(d) Has any work been done where a required building permit was not obtained?

(e) Are there violations of building codes, housing codes, or zoning regulations (not otherwise grandfathered)?

(f) Have any notices alleging such violations been received?

(g) Is any portion of the main dwelling a mobile, modular or manufactured home?

(h) Was any dwelling or portion thereof (excluding mobile, modular and manufactured dwelling) moved to the site from another location?

EXPLANATION:

YES NO

5. SYSTEMS and COMPONENTS:

(a) Approximate age of HVAC system(s): _______________ years

(b) Has any part of the HVAC system(s) been replaced during Seller’s ownership?

(c) Date of last HVAC system(s) service: _________________________________________

(d) Is any heated and cooled portion of the main dwelling not served by a central heating and cooling system?

(e) Is any portion of the heating and cooling system in need of repair or replacement?

(f) Does any dwelling or garage have aluminum wiring other than in the primary service line?

(g) Are any fireplaces decorative only or in need of repair?

(h) Have there been any reports of damaging moisture behind exterior walls constructed of synthetic stucco?

(i) Are any systems/components subject to a lease or rental payment plan (i.e. HVAC, security system, appliances, solar systems, etc.)?

EXPLANATION:

YES NO

6 SEWER/PLUMBING RELATED ITEMS:

(a) Approximate age of water heater(s): _______________ years

(b) What is the drinking water source:  public  private  well

(c) If the drinking water is from a well, has there ever been a test the results of which indicate that the water is not safe to drink?

(d) What is the sewer system:  public  private  septic tank

(e) If the Property is served by a septic system, how many bedrooms was the septic system approved for by local government authorities? ____________

(f) Is the main dwelling served by a sewage pump?

(g) Has any septic tank or cesspool on Property ever been professionally serviced?

If yes, please give the date of last service: ______________________________

(h) Are there any leaks, backups, or other similar problems with any portion of the plumbing, water, or sewage systems or damage therefrom?

(i) Is there presently any polybutylene plumbing, other than the primary service line?

(j) Has there ever been any damage from a frozen water line, spigot, or fixture?

EXPLANATION:

Copyright© 2021 by Georgia Association of REALTORS®

F301, Seller’s Property Disclosure Statement Exhibit, Page 2 of

YES NO

7 ROOFS, GUTTERS, and DOWNSPOUTS:

(a) Approximate age of roof on main dwelling: _________ years.

(b) Has any part of the roof been repaired during Seller’s ownership?

(c) Are there any roof leaks or other problems with the roof, roof flashing, gutters, or downspouts?

EXPLANATION:

YES NO

8. FLOODING, DRAINING, MOISTURE, and SPRINGS:

(a) Is there now or has there been any water intrusion in the basement, crawl space or other parts of any dwelling or garage or damage therefrom?

(b) Have any repairs been made to control water intrusion in the basement, crawl space, or other parts of any dwelling or garage?

(c) Is any part of the Property or any improvements thereon presently located in a Special Flood Hazard Area?

(d) Has there ever been any flooding?

(e) Are there any streams that do not flow year round or underground springs?

(f) Are there any dams, retention ponds, storm water detention basins, or other similar facilities?

EXPLANATION:

YES NO

9. SOIL AND BOUNDARIES:

(a) Are there any landfills (other than foundation backfill), graves, burial pits, caves, mine shafts, trash dumps or wells (in use or abandoned)?

(b) Is there now or has there ever been any visible soil settlement or movement?

(c) Are there presently any encroachments, unrecorded easements or boundary line disputes with a neighboring property owner?

(d) Do any of the improvements encroach onto a neighboring property?

EXPLANATION:

YES NO

10. TERMITES, DRY ROT, PESTS, and WOOD DESTROYING ORGANISMS:

(a) Is there any damage or hazardous condition resulting from animal intrusion (such as squirrels, bats, mice, possum or raccoons); insects (such as termites, bees and ants); or by fungi or dry rot?

(b) Is there presently a bond, warranty or service contract for termites or other wood destroying organisms by a licensed pest control company?

If yes, is the cost to transfer? $ ______________ What is the annual cost? ______________

If yes, company name/contact: __________________________________________________

Coverage:  re treatment and repair  re treatment  periodic inspections only

Expiration Date _______________________ Renewal Date __

(c) Is there a cost to maintain the bond, warranty or service contract?

If yes, what is the annual cost? $___________________

EXPLANATION:

Copyright© 2021 by Georgia Association of REALTORS®

F301, Seller’s Property Disclosure Statement Exhibit, Page 3 of 7, 01/01/21

YES NO

11 ENVIRONMENTAL, HEALTH, and SAFETY CONCERNS:

(a) Are there any underground tanks or toxic or hazardous substances such as asbestos?

(b) Has Methamphetamine (“Meth”) ever been produced on the Property?

(c) Have there ever been adverse test results for radon, lead, mold or any other potentially toxic or environmentally hazardous substances?

EXPLANATION:

12 LITIGATION and INSURANCE:

(a) Is there now or has there been any litigation therein alleging negligent construction or defective building products?

(b) Has there been any award or payment of money in lieu of repairs for defective building products or poor construction?

(c) Has any release been signed regarding defective products or poor construction that would limit a future owner from making any claims?

(d) During Seller’s ownership have there been any insurance claims for more than 10% of the value of the Property?

(e) Is the Property subject to a threatened or pending condemnation action?

(f) How many insurance claims have been filed during Seller’s ownership?

EXPLANATION:

13 OTHER HIDDEN DEFECTS:

(a) Are there any other hidden defects that have not otherwise been disclosed?

EXPLANATION:

YES NO

14. AGRICULTURAL DISCLOSURE:

(a) Is Property within, partially within, or adjacent to any property zoned or identified on an approved county land use plan as agricultural or forestry use?

YES NO

YES NO

It is the policy of this state and this community to conserve, protect, and encourage the development and improvement of farm and forest land for the production of food, fiber, and other products, and also for its natural and environmental value.

This notice is to inform prospective property owners or other persons or entities leasing or acquiring an interest in real property that property in which they are about to acquire an interest lies within, partially within, or adjacent to an area zoned, used, or identified for farm and forest activities and that farm and forest activities occur in the area. Such farm an d forest activities may include intensive operations that cause discomfort and inconveniences that involve, but are not limited to, noises, odors, fumes, dust, smoke, insects, operations of machinery during any 24 hour period, storage and disposal of manure, and the application by spraying or otherwise of chemical fertilizers, soil amendments, herbicides, and pesticides. One or more of these inconveniences may occur as the result of farm or forest activities which are in conformance with existing laws and regulations and accepted customs and standards.

Copyright© 2021 by Georgia Association of REALTORS®

F301, Seller’s Property Disclosure Statement Exhibit, Page 4 of 7, 01/01/21

ADDITIONAL EXPLANATIONS

D FIXTURES CHECKLIST

Directions on HOW TO USE: It is often unclear what constitutes a fixture which remains with the Property versus personal property which does not remain with the Property. To avoid disputes, Seller shall have the right to remove all items on the checklist below that are left blank THE ITEMS ON THE CHECKLIST BELOW THAT ARE CHECKED OR MARKED SHALL REMAIN WITH THE PROPERTY All items remaining with Property shall include remotes and/or all accessories necessary for use. Unless otherwise indicated, if an item is left blank, the Seller may remove all of that item from the Property. For example, if “Refrigerator” is left blank, Seller may remove all Refrigerators on the Property. This checklist is intended to supersede the common law of fixtures with regard to the items below. The common law of fixtures shall apply to all items not on this checklist. Seller shall remove all items left blank below prior to closing or the transfer of possession, whichever is later. Seller shall lose the right to remove those items not timely removed but shall remain liable for the cost of Buyer having to dispose of such items provided that Buyer disposes of them within 30 days after Closing. In removing items, Seller shall use reasonable care to prevent and repair damage to the area where the item was removed

Items identified as remaining with the Property shall mean those specific items as they existed in the Property as of the Offer Date. No such item shall be removed from the Property unless it is broken or destroyed. In the event such item is removed, it shall be replaced with a substantially identical item, if reasonably available. If not reasonably available, it shall be replaced with a substantially similar item of equal quality and value, or better. The same or newer model of the item being replaced in the same color and size and with the same functions or better shall be considered substantially identical. This section entitled “Fixtures Checklist” shall survive Closing.

Television (TV)

Antenna

Mounts/Brackets

Wiring

Ceiling Fan

Chandelier

Closet System

Fireplace (FP)

FP Gas Logs

FP Screen/Door

FP Wood Burning Insert

Light Bulbs

Light Fixtures

Mirrors

Wall Mirrors

Vanity (hanging) Mirrors

Shelving Unit & System

Shower Head/Sprayer

Storage Unit/System

Window Blinds (and Hardware)

Window Shutters (and Hardware)

Window Draperies (and Hardware)

Unused Paint

Landscaping / Yard

Arbor

Awning

Basketball Post and Goal

Birdhouses

Boat Dock

Fence Invisible

Dog House

Flag Pole

Gazebo

Irrigation System

Landscaping Lights

Mailbox

Out/Storage Building

Porch Swing

Statuary

Stepping Stones

Swing Set

Tree House

Trellis

Weather Vane

Recreation

Aboveground Pool

Gas Grill

Hot Tub

Outdoor Furniture

Outdoor Playhouse

Pool Equipment

Pool Chemicals

Sauna

Safety

Alarm System (Burglar)

Alarm System (Smoke/Fire)

Security Camera

Carbon Monoxide Detector

Doorbell

Door & Window Hardware

Fire Sprinkler System

Gate

Safe (Built In)

Smoke Detector

Window Screens

Systems

A/C Window Unit

Air Purifier

Whole House Fan

Attic Ventilator Fan

Ventilator Fan

Car Charging Station

Dehumidifier

Generator

Humidifier

Propane Tank

Propane Fuel in Tank

Fuel Oil Tank

Fuel Oil in Tank

Sewage Pump

Solar Panel

Sump Pump

Thermostat

Water Purification System

Water Softener System

Well Pump

Other

Copyright© 2021 by Georgia Association of REALTORS®

F301, Seller’s Property Disclosure Statement Exhibit, Page 6 of 7, 01/01/21

RECEIPT AND ACKNOWLEDGEMENT BY BUYER SELLER’S REPRESENTATION REGARDING THIS STATEMENT

Buyer acknowledges receipt of this Seller’s Property

Seller represents that the questions in this Statement have Disclosure Statement. been answered to the actual knowledge and belief of all Sellers of the Property

1 Buyer’s Signature

Print or Type Name

1 Seller’s Signature

Print or Type Name

Date Date

2 Buyer’s Signature

Print or Type Name

2 Seller’s Signature

Print or Type Name

Date Date

Additional Signature Page (F267) is attached.

Additional Signature Page (F267) is attached.

by Georgia Association of REALTORS®

Seller’s Property Disclosure Statement Exhibit,

VALUATION

ASSESSING YOUR HOME’S VALUE

A Market-Oriented Valuation performed by your Engel & Völkers Atlanta Advisor is an essential part of the services we provide. It is the most accurate assessment of your home’s value based on data and information that includes current and historical real estate activity in your market.

• Accurate pricing based on comparative market analysis is key to achieving the best possible value from the sale of your home.

• Homes priced slightly higher than its perceived value will reduce the number of interested potential buyers.

• Starting with an accurate price from the outset will yield the highest results.

• Interest in a home new to the market drops significantly the longer the home remains on the market.

• Detailed knowledge of the local market provides insight in the buyer’s perception of the home’s value.

• The longer a property remains on the market the less of a chance in finding an interested buyer

• The portion of the price related to home improvements will typically be less than the actual cost.

• An offer will typically be lower than the listed price but can be negotiated higher since an offer also signifies that a connection to the home has already been made.

Finding the best buyer for a home is to expose it to the largest number of potential buyers. The market dictates the amount of attention a home will receive based on its listed price. Pricing above market value will get the attention of fewer potential buyers; Pricing at or below market value will attract more buyers.

THE IMPORTANCE OF CORRECT PRICING

Statistics show that interest and excitement are highest within the first four weeks on the market. With the higher level of interest comes the best opportunity to communicate the value of the property and to ultimately sell it. Preparation and, especially pricing, are crucial in capitalizing on this initial exposure. As weeks pass (and without the added recognition as a “new listing”) interest falls and reintroducing the home at an adjusted price typically does not receive the same attention as the first four weeks. When a property is first listed it generates a very high level of interest from prospective buyers which reduces dramatically over time. It is important to be priced correctly from the beginning, during the peak of the curve.

Pricing your property correctly the first time is the most important part of the listing process. Overpricing your house in the belief that you can reduce the price back later is a strategy that can backfire badly. For example, by the time you reduce your price, you may miss out on a surge of interest in properties like yours. Also, if prices are lowered, buyers may wonder if there’s something wrong with the property that kept other buyers away. So, to keep from selling your property at below market value and from wasting valuable time, don’t fall into the overpricing trap.

PRICING YOUR PROPERTY

When setting a price for your property, the listing level must strike a balance between the seller’s need to achieve the bestpossible return and the buyer’s need to get good value. With many years of experience, we can help you set a price that will accomplish both objectives.

Establishing Market Value

The market value of your property is determined in exactly the same way as any other commodity – what a buyer is willing to pay for it in today’s market. Despite the price you paid originally, or the value of any improvements you may have made, the value is determined by market forces.

Look At The Competition

Buyers look at about a dozen properties on average before making an offer on a property. As a result, they have a good overview of the market and will compare your property against the competition. If it’s not in line with similar properties that are available, buyers won’t consider it good value for money.

PLAN

STRATEGY AND PROMOTION

With a full understanding of your home’s position in the market and a pricing strategy to meet your goal within an acceptable timeframe, our marketing team will go to work in developing and executing a custom strategy to promote your home to target audiences. Professional photographers will capture images of your home that will leap out of the pages of world-class publications where Engel & Völkers ads are placed, and our designers and copywriters work together to build your campaigns which may include direct mail, online advertising, social media posts and exposés appearing in shops throughout our international network.

Our full-service marketing and advertising includes professional and high-quality creative work, advertisements in local, national and international publications, preferred placements, branding on top real estate search sites, social media and public relations. Through our exclusive media partnerships, your listing has elite access in the worlds’ most notable digital and print publications such as Wall Street Journal, Mansion Global, James Edition, New York Times, Juwaii, International Herald Tribune and more.

RESEARCH

STRATEGY EXECUTION

RELATIONS

SUSTAINED CREDIBILITY AND AWARENESS

Our relationships with the world’s leading publications, local magazines, newspapers and our ongoing public relations activities ensure all around maximum exposure for our listings in print. Engel & Völkers has maintained special arrangements for years that allow our properties heightened exposure in local, national and international print publications.

Sustained credibility of our brand and properties come from these articles, features and broadcasts from the world’s most well-regarded news outlets- through efforts generated from our Engel & Völkers North America headquarters in New York City and our global communications division in our corporate office in Hamburg.

We reach out regularly to reporters, editors and producers on an ongoing basis to keep them apprised of our latest listings and company news. News stories about the properties we have listed and about our brand have appeared in The New York Times, The International New York Times, The Financial Times, The Wall Street Journal, in major metropolitan news media in markets throughout North America as well as in major outlets throughout Europe and Asia.

SKILLFUL MARKETING

DISTINCTIVE DELIVERABLES

DISTINCTIVE DELIVERABLES

We produce distinctive marketing, which is custom-tailored for each unique client and each unique property. We ensure your property has online exposure in all major markets- an imperative for selling property to today’s digital savvy and often international clientele.

We produce distinctive marketing, custom-tailored for each unique client and each unique property. We ensure your property has online exposure in all major markets–an imperative for selling property to today’s digital savvy, and often International clientele.

• Targeted Print & Digital

• Targeted Print & Digital

Social Media

Social Media

3D Matterport

3D Matterport

• Network of Online Partnerships

Network of Online Partnerships

GG Magazine & more

GG Magazine & more

Photography & Videography

Photography & Videography

YOUR HOME

Now that you’ve scrutinized, staged, and scrubbed down your property, the showings will begin. While your property may be in immaculate shape, it is important to follow some unwritten etiquette rules sellers should follow to show their home in the best possible light. The best thing you can do is make your property as easy to show as possible.

Expectations of Showings

There are a few ways that your property will be shown. Sometimes agents make showings by appointment and other times a lockbox will be placed on your house. Lockboxes are the easiest way to make your home available as often as possible. Through a lockbox, your agent will electronically receive information about who is showing your property, when they are showing it, and any additional contact information associated with the showing.

Leave During Showings

Buyers are less comfortable when homeowners are watching their every move. They are trying to picture themselves living in your property, so it is important that you give them privacy to experience your house.

Take Your Pets with You

Don’t alienate would-be purchasers by forcing your pets on them. In addition to having allergies, some home shoppers may not be in the market for a run-in with an animal they don’t know. Take your pup for a car ride, to the dog park, or for a long walk. This will alleviate the potential your pet may not love the idea of strangers in your home, either.

Move Your Car

Make it easy for visitors to park and view the home. No one likes parking issues and a potential buyer having parking issues during a showing is a sure way to get a viewing off to a bad start.

Lay Out Important Documents

If questions arise while buyers are on the premises, it may help them decide to put in an offer that much faster if they can find answers quickly and in writing. Leaving necessary documents in an easy-to-find spot isn’t just good for selling, it’s also good selling etiquette. Put out the home inspection report, appraisal, home warranty, monthly bill information, and proof of any major repairs so that people considering your home can review.

Offer Some Refreshments

Putting out a few small, bottled waters in a small bowl of ice is always appreciated, along with some light, easy grab-and-go sort of refreshments like mints or cookies.

Be Patient Waiting for Feedback

Buyers often want to process what they’ve seen and think it over before making an offer. It is reasonable to ask for feedback from your real estate agent after the showing, but understand it may take a day or two for the buyer’s agent to respond.

Lock Up Valuables

At the end of the day, although buyers will be accompanied by real estate agents, it is still best to protect your valuables by locking them up safely. This includes jewelry, credit cards, money and checks. This will be especially important during caravans and open houses.

No-Show’s

Unfortunately, there will be times when buyers schedule a showing and do not show up. There could be many reasons for a “no-show”. Keep an open mind and remember sometimes unexpected things come up in people’s lives.

NAVIGATING THE CONTRACT PROCESS

AGREEMENTS BETWEEN BUYER AND SELLER

Coming to an agreement on price and terms between the seller and the buyer is the first step. Generally, the buyer makes an offer, and the seller will either accept it or issue a counteroffer. This counteroffer procedure might involve just one counter, or it can evolve into a multitude of counteroffers back and forth over a period of time.

At some point, however, there’s a meeting of the minds. The listing status then changes from an active listing to a pending sale. Some agents put a sign up in the yard that says “pending” or “under contract.” But your house is not yet sold just because this happens.

The Georgia residential Purchase and Sale Agreement is a contract that legally binds two parties (seller and buyer) together for the purpose of making a transaction of a residential property. This contract covers all the pertinent information regarding the transaction including price, financing terms, rights and obligations of both parties, and a closing clause. Should any problems arise during the sale, the agreement exists to mediate the situation and ensure the transaction is fair to both parties. Once the agreement has been signed, it may not be terminated unless both parties agree.

The Binding Agreement Date is the day on which all of the timelines and deadlines for the contract contingencies begin, such as the due diligence period, the financing contingency period, and the appraisal contingency period.

Earnest Money is a deposit made to a seller indicating the buyer’s good faith in the purchase and is typically 1-3% of the purchase price. The earnest money paid is put toward the buyer’s down payment when the transaction is finalized. The transaction is usually finalized after inspections are done and the buyer secures a mortgage with the bank.

The buyer may elect to perform inspections on the property as part of the Due Diligence period defined in the contract. These inspections (and all due diligence) must be completed by a number of days specified under “buyer’s right to terminate” in the standard purchase and sale agreement contract. The amount of time of the due diligence is an agreed upon time between the buyer and seller. Typically, buyers will perform Home Inspections during the due diligence period. Any costs for a home inspection are incurred by the buyer.

Another inspection is the Appraisal This is usually required by the bank if a buyer is obtaining financing. If the appraisal is lower than the contracted price, most lenders will decline to offer the buyer a loan. In this instance, the buyer and seller may renegotiate to the lower appraised price.

PURCHASE AND SALE AGREEMENT EXAMPLE

A. KEY TERMS AND CONDITIONS

PURCHASE AND SALE AGREEMENT

Offer Date:

2021 Printing

1. Purchase and Sale. The undersigned buyer(s) (“Buyer”) agree to buy and the undersigned seller(s) (“Seller”) agree to sell the real property described below including all fixtures, improvements and landscaping therein (“Property”) on the terms and conditions set forth in this Agreement.

a. Property Identification: Address: ______________ City ____________________________, County _____ _____________, Georgia, Zip Code _

MLS Number: _____________________________________ Tax Parcel I.D. Number: ____

b. Legal Description: The legal description of the Property is [select one of the following below]:

 (1) attached as an exhibit hereto;  (2) Condominium (attach F204 Condominium Resale Purchase and Sale Exhibit)  (3) the same as described in Deed Book _ __, Page , et. seq., of the land records of the above county; OR  (4) Land Lot(s) ________________ of the __________________ District, _______________________________ Section/ GMD, Lot ____________, Block ______________, Unit _____________, Phase/Section __________ of ____________________________________________________________________ Subdivision/Development, according to the plat recorded in Plat Book ____________, Page ___________, et. seq., of the land records of the above county.

2. Purchase Price of Property to be Paid by Buyer. $ 3. Closing Costs. Seller’s Contribution at Closing: $

4. Closing Date and Possession.

Closing Date shall be _______________________________ with possession of the Property transferred to Buyer  at Closing OR  _ days after Closing at ___ o’clock  AM  PM (attach F219 Temporary Occupancy Agreement).

5. Holder of Earnest Money (“Holder”) (If Holder is Closing Attorney, F510 must be attached as an exhibit hereto, and F511 must be signed by Closing Attorney.)

6. Closing Attorney/Law Firm

7. Earnest Money Earnest Money shall be paid by check ACH cash or wire transfer of immediately available funds as follows:  a. $_____________________________ as of the Offer Date.  b. $____________________________ within ____ days from the Binding Agreement Date  c.

8. Inspection and Due Diligence.

a. Due Diligence Period: Property is being sold subject to a Due Diligence Period of _____ days from the Binding Agreement Date.

b. Option Payment for Due Diligence Period: In consideration of Seller granting Buyer the option to terminate this Agreement, Buyer:

(1) has paid Seller $10.00 in nonrefundable option money, the receipt and sufficiency of which is hereby acknowledged; plus

(2) shall pay Seller additional option money of $_____________________ by  check or  wire transfer of immediately available funds either  as of the Offer Date; OR  within _____ days from the Binding Agreement Date. Any additional option money paid by Buyer to Seller  shall (subject to lender approval) or  shall not be applied toward the purchase price at closing and shall not be refundable to Buyer unless the closing fails to occur due to the default of the Seller.

9. Lead Based Paint. To the best of Seller’s knowledge, the residential dwelling(s) on the Property (including any portion thereof or painted fixture therein)  was (attach F316 Lead Based Paint Exhibit) OR  was not built prior to 1978

10. Brokerage Relationships in this Transaction

a. Buyer’s Broker is and is:

(1)  representing Buyer as a client

(2)  working with Buyer as a customer

(3)  acting as a dual agent representing Buyer and Seller.

(4)  acting as a designated agent where: has been assigned to exclusively represent Buyer

b. Seller’s Broker is and is:

(1)  representing Seller as a client

(2)  working with Seller as a customer.

(3)  acting as a dual agent representing Buyer and Seller. (4)  acting as a designated agent where: has been assigned to exclusively represent Seller.

c. Material Relationship Disclosure: The material relationships required to be disclosed by either Broker are as follows:

11. Time Limit of Offer. The Offer set forth herein expires at _______ o’clock ____.m. on the date ________________________________. Buyer(s) Initials Seller(s) Initials _____________

THIS FORM IS COPYRIGHTED AND MAY ONLY BE USED IN REAL ESTATE TRANSACTIONS IN WHICH _____________________________

F201, Purchase and Sale Agreement, Page 1 of 8 01/01/21

IS INVOLVED AS A REAL ESTATE LICENSEE. UNAUTHORIZED USE OF THE FORM MAY RESULT IN LEGAL SANCTIONS BEING BROUGHT AGAINST THE USER AND SHOULD BE REPORTED TO THE GEORGIA ASSOCIATION OF REALTORS® AT (770) 451 1831. Copyright© 2021 by Georgia Association of REALTORS®, Inc.

SALE

B. CORRESPONDING PARAGRAPHS FOR SECTION A

1. Purchase and Sale

a. Warranty: Seller warrants that at the time of closing Seller will convey good and marketable title to said Property by limited warranty deed subject only to: (1) zoning; (2) general utility, sewer, and drainage easements of record as of the Binding Agreement Date and upon which the improvements (other than any driveway or walkway) do not encroach; (3) declarations of condominium and declarations of covenants, conditions and restrictions of record on the Binding Agreement Date; and (4) leases and other encumbrances specified in this Agreement. Buyer agrees to assume Seller’s responsibilities in any leases specified in this Agreement.

b. Examination: Buyer may examine title and obtain a survey of the Property and furnish Seller with a written statement of title objections at or prior to the closing. If Seller fails or is unable to satisfy valid title objections at or prior to the closing or any unilateral extension thereof, which would prevent the Seller from conveying good and marketable title to the Property, then Buyer, among its other remedies, may terminate the Agreement without penalty upon written notice to Seller. Good and marketable title as used herein shall mean title which a title insurance company licensed to do business in Georgia will insure at its regular rates, subject only to standard exceptions.

c. Title Insurance: Buyer hereby directs any mortgage lender involved in this transaction to quote the cost of title insurance based upon the presumption that Buyer will be obtaining an enhanced title insurance policy since such a policy affords Buyer greater coverage.

2. Purchase Price to be Paid by Buyer The Purchase Price shall be paid in U.S. Dollars at closing by wire transfer of immediately available funds, or such other form of payment acceptable to the closing attorney.

3. Closing Costs

a. Seller’s Contribution at Closing: At closing, Seller shall make the referenced Seller’s Monetary Contribution which Buyer may use to pay any cost or expense of Buyer related to this transaction. Buyer acknowledges that Buyer’s mortgage lender(s) may not allow the Seller’s Monetary Contribution, or the full amount thereof, to be used for some costs or expenses. In such event, any unused portion of the Seller’s Monetary Contribution shall remain the property of the Seller. The Seller shall pay the fees and costs of the closing attorney: (1) to prepare and record title curative documents and (2) for Seller not attending the closing in person.

b. Items Paid by Buyer: At closing, Buyer shall pay: (1) Georgia property transfer tax; (2) the cost to search title and tax records and prepare the limited warranty deed; and (3) all other costs, fees and charges to close this transaction, except as otherwise provided herein.

c. Prorations: Ad valorem property taxes, community association fees, solid waste and governmental fees and utility bills for which service cannot be terminated as of the date of closing shall be prorated as of the date of closing. In the event ad valorem property taxes are based upon an estimated tax bill or tax bill under appeal, Buyer and Seller shall, upon the issuance of the actual tax bill or the appeal being resolved, promptly make such financial adjustments between themselves as are necessary to correctly prorate the tax bill.

In the event there are tax savings resulting from a tax appeal, third party professional costs to handle the appeal may be deducted from the savings for that tax year before re prorating. Any pending tax appeal for the year in which the Property is sold shall be deemed assigned to Buyer at closing. The liability to the county in which the Property is located for ad valorem real property taxes for the year in which the Property is sold shall be assumed by Buyer upon the Closing of the Property. Buyer agrees to indemnify Seller against any and all claims of the county for unpaid ad valorem real property taxes for the year in which the Property is sold.

4. Closing Date and Possession

a. Right to Extend the Closing Date: Buyer or Seller may unilaterally extend the closing date for eight (8) days upon notice to the other party given prior to or on the date of closing if: (1) Seller cannot satisfy valid title objections (excluding title objections that: (a) can be satisfied through the payment of money or by bonding off the same; and (b) do not prevent Seller from conveying good and marketable title, as that term is defined herein, to the Property); (2) Buyer’s mortgage lender (even in “all cash” transactions where Buyer is obtaining a mortgage loan) or the closing attorney is delayed and cannot fulfill their respective obligations by the date of closing, provided that the delay is not caused by Buyer; or (3) Buyer has not received required estimates or disclosures and Buyer is prohibited from closing under federal regulations The party unilaterally extending the closing date shall state the basis for the delay in the notice of extension. If the right to unilaterally extend the closing date is exercised once by either the Buyer or Seller, the right shall thereafter terminate.

b. Keys and Openers: At Closing, Seller shall provide Buyer with all keys, door openers, codes and other similar equipment pertaining to the Property.

5. Holder of Earnest Money The earnest money shall be deposited into Holder’s escrow/trust account (with Holder being permitted to retain the interest if the account is interest bearing) not later than: (a) five (5) banking days after the Binding Agreement Date hereunder or (b) five (5) banking days after the date it is actually received if it is received after the Binding Agreement Date. If Buyer writes a check or pays with an ACH for earnest money and the same is deposited into Holder’s escrow/trust account, Holder shall not return the earnest money until the check or ACH has cleared the account on which the check was written or from which the ACH was sent. In the event any earnest money check is dishonored by the bank upon which it is drawn, or earnest money is not timely paid, Holder shall promptly give notice of the same to Buyer and Seller. Buyer shall have three (3) banking days from the date of receiving the notice to cure the default and if Buyer does not do so, Seller may within seven (7) days thereafter terminate this Agreement upon notice to Buyer. If Seller fails to terminate the Agreement timely, Seller’s right to terminate based on the default shall be waived

6. Closing Attorney/Law Firm Buyer shall have the right to select the closing attorney to close this transaction, and hereby selects the closing attorney referenced herein. In all cases where an individual closing attorney is named in this Agreement but the closing attorney is employed by or an owner, shareholder, or member in a law firm, the law firm shall be deemed to be the closing attorney. If Buyer’s mortgage lender refuses to allow that closing attorney to close this transaction, Buyer shall select a different closing attorney acceptable to the mortgage lender. The closing attorney shall represent the mortgage lender in any transaction in which the Buyer obtains mortgage financing (including transactions where the method of payment referenced herein is “all cash”). In transactions where the Buyer does not obtain mortgage financing, the closing attorney shall represent the Buyer.

Copyright© 2021 by Georgia Association of REALTORS®,

Purchase and Sale Agreement, Page 2 of 8,

7. Earnest Money

a. Entitlement to Earnest Money: Subject to the paragraph below, Buyer shall be entitled to the earnest money upon the: (1) failure of the parties to enter into a binding agreement; (2) failure of any unexpired contingency or condition to which this Agreement is subject; (3) termination of this Agreement due to the default of Seller; or (4) termination of this Agreement in accordance with a specific right to terminate set forth in the Agreement. Otherwise, the earnest money shall be applied towards the purchase price of the Property at closing or if other funds are used to pay the purchase price then the earnest money shall be returned to Buyer.

b. Disbursement of Earnest Money: Holder shall disburse the earnest money upon: (1) the closing of Property; (2) a subsequent written agreement of Buyer and Seller; (3) an order of a court or arbitrator having jurisdiction over any dispute involving the earnest money; or (4) the failure of the parties to enter into a binding agreement (where there is no dispute over the formation or enforceability of the Agreement). In addition, Holder may disburse the earnest money upon a reasonable interpretation of the Agreement, provided that Holder first gives all parties at least ten (10) days notice stating to whom and why the disbursement will be made. Any party may object to the proposed disbursement by giving written notice of the same to Holder within the ten (10) day notice period. Objections not timely made in writing shall be deemed waived. If Holder receives an objection and, after considering it, decides to disburse the earnest money as originally proposed, Holder may do so and send notice to the parties of Holder’s action. If Holder decides to modify its proposed disbursement, Holder shall first send a new ten (10) day notice to the parties stating the rationale for the modification and to whom the disbursement will now be made. Holder shall disburse the earnest money to Seller by check in the event Holder: (1) makes a reasonable interpretation of the Agreement that the Agreement has been terminated due to Buyer’s default; and (2) sends the required ten (10) day notice of the proposed disbursement to Buyer and Seller. The above referenced check shall constitute liquidated damages in full settlement of all claims of Seller against Buyer and the Brokers in this transaction Holder may require Seller to sign a W 9 before issuing a check to Seller for liquidated damages of $600 or more. Such liquidated damages are a reasonable pre estimate of Seller’s actual damages, which damages the parties agree are difficult to ascertain and are not a penalty.

c. Interpleader: If an earnest money dispute cannot be resolved after a reasonable time, Holder may interplead the earnest money into a court of competent jurisdiction if Holder is unsure who is entitled to the earnest money. Holder shall be reimbursed for and may deduct its costs, expenses and reasonable attorney’s fees from any funds interpleaded. The prevailing defendant in the interpleader lawsuit shall be entitled to collect its attorney’s fees, court costs and the amount deducted by Holder to cover Holder’s costs and expenses from the non prevailing defendant.

d. Hold Harmless: All parties hereby covenant and agree to: (1) indemnify and hold Holder harmless from and against all claims, injuries, suits and damages arising out of the performance by Holder of its duties; (2) not to sue Holder for any decision of Holder to disburse earnest money in accordance with this Agreement.

8. Inspection and Due Diligence

a. Right to Inspect Property: Upon prior notice to Seller, Buyer and/or Buyer’s representatives shall have the right to enter the Property at Buyer’s expense and at reasonable times (including immediately prior to closing) to inspect, examine, test, appraise and survey Property. This right to enter shall include the time period after the end of any Due Diligence Period to, among other things, and without limitation, meet contractors and vendors, measure for renovations and confirm that any agreed upon repairs have been made and the Property otherwise remains in the same condition. Seller shall cause all utilities, systems and equipment to be on so that Buyer may complete all inspections. Buyer agrees to hold Seller and all Brokers harmless from all claims, injuries and damages relating to the exercise of these rights and shall promptly restore any portion of the Property damaged or disturbed from testing or other evaluations to a condition equal to or better than the condition it was in prior to such testing or evaluation. If Buyer is concerned that the Property may have been used as a laboratory for the production of methamphetamine, or as a dumpsite for the same, Buyer should review the National Clandestine Laboratory Register Georgia at www.dea.gov

b. Duty to Inspect Neighborhood: In every neighborhood there are conditions which different buyers may find objectionable. Buyer shall have the sole duty to become familiar with neighborhood conditions that could affect the Property such as landfills, quarries, power lines, airports, cemeteries, prisons, stadiums, odor and noise producing activities, crime and school, land use, government and transportation maps and plans It shall be Buyer’s sole duty to become familiar with neighborhood conditions of concern to Buyer. If Buyer is concerned about the possibility of a registered sex offender residing in a neighborhood in which Buyer is interested, Buyer should review the Georgia Violent Sex Offender Registry available on the Georgia Bureau of Investigation Website at www.gbi.georgia.gov

c. Warranties Transfer: Seller agrees to transfer to Buyer, at closing, subject to Buyer’s acceptance thereof (and at Buyer’s expense, if there is any cost associated with said transfer), Seller’s interest in any existing manufacturer’s warranties, service contracts, termite treatment and/or repair guarantee and/or other similar warranties which, by their terms, may be transferable to Buyer.

d. Property Sold “As Is” Unless this Agreement is Subject to Due Diligence Period:

(1) General: Unless the Property is being sold subject to a Due Diligence Period referenced herein, the Property shall be sold "as is" with all faults. Even if the Property is sold “as is” Seller is required under Georgia law to disclose to the Buyer latent or hidden defects in the Property which Seller is aware and which could not have been discovered by the Buyer upon a reasonable inspection of the property. The inclusion of a Due Diligence Period herein shall: (a) during its term make this Agreement an option contract in which Buyer may decide to proceed or not proceed with the purchase of the Property for any or no reason; and (b) be an acknowledgement by Seller that Buyer has paid separate valuable consideration of $10 for the granting of the option.

(2) Purpose of Due Diligence Period: During the Due Diligence Period, Buyer shall determine whether or not to exercise Buyer's option to proceed or not proceed with the purchase of the Property. If Buyer has concerns with the Property, Buyer may during the Due Diligence Period seek to negotiate an amendment to this Agreement to address such concerns.

(3) Notice of Decision Not To Proceed: Buyer shall have elected to exercise Buyer's option to purchase the Property unless prior to the end of any Due Diligence Period, Buyer notifies Seller of Buyer's decision not to proceed by delivering to Seller a notice of termination of this Agreement. In the event Buyer does not terminate this Agreement prior to the end of the Due Diligence Period, then: (a) Buyer shall have accepted the Property "as is" subject to the terms of this Agreement; and (b) Buyer shall no longer have any right to terminate this Agreement based upon the Due Diligence Period.

e. Repairs: All agreed upon repairs and replacements shall be performed in a good and workmanlike manner prior to closing.

PURCHASE AND SALE

EXAMPLE

9. Lead Based Paint If any portion of a residential dwelling on the Property was built prior to 1978, the Lead Based Paint Exhibit (F316) is hereby attached as an exhibit to this Agreement. The term “residential dwelling” includes any painted fixture or material used therein that was built or manufactured prior to 1978.

10. Brokerage Relationships in this Transaction.

a. Agency Disclosure: No Broker in this transaction shall owe any duty to Buyer or Seller greater than what is set forth in their brokerage engagements and the Brokerage Relationships in Real Estate Transactions Act, O.C.G.A. § 10 6A 1 et. seq.;

(1) No Agency Relationship: Buyer and Seller acknowledge that, if they are not represented by Brokers in a client relationship, they are each solely responsible for protecting their own interests, and that Broker’s role is limited to performing ministerial acts for that party.

(2) Consent to Dual Agency: If Broker is acting as dual agent in this transaction, Buyer and Seller consent to the same and acknowledge having been advised of the following:

i Dual Agency Disclosure: [Applicable only if Broker is acting as a dual agent in this transaction ]

(a) As a dual agent, Broker is representing two clients whose interests are or at times could be different or even adverse;

(b) Broker will disclose all adverse material facts relevant to the transaction and actually known to the dual agent to all parties in the transaction except for information made confidential by request or instructions from each client which is not otherwise required to be disclosed by law;

(c

) Buyer and Seller do not have to consent to dual agency and the consent of Buyer and Seller to dual agency has been given voluntarily and the parties have read and understand their brokerage engagement agreements.

(d) Notwithstanding any provision to the contrary contained herein Buyer and Seller each hereby direct Broker while acting as a dual agent to keep confidential and not reveal to the other party any information which could materially and adversely affect their negotiating position.

ii Designated Agency Disclosure: If Broker in this transaction is acting as a designated agent, Buyer and Seller consent to the same and acknowledge that each designated agent shall exclusively represent the party to whom each has been assigned as a client and shall not represent in this transaction the client assigned to the other designated agent.

b. Brokerage: Seller has agreed to pay Seller’s Broker(s) a commission pursuant to a separate brokerage engagement agreement entered into between the parties and incorporated herein by reference (“Seller Brokerage Engagement Agreement”). The Seller’s Broker has agreed to share that commission with the Buyer’s Broker. The closing attorney is hereby authorized and directed to pay the Broker(s) at closing, their respective portions of the commissions out of the proceeds of the sale. If the sale proceeds are insufficient to pay the full commission, the party owing the commission shall pay any shortfall at closing. The acceptance by the Broker(s) of a partial real estate commission at the closing shall not relieve the party owing the same from paying the remainder after the closing (unless the Broker(s) have expressly agreed in writing to accept the amount paid in full satisfaction of the Broker(s) claim to a commission). The Brokers herein are signing this Agreement to reflect their role in this transaction and consent to act as Holder if either of them is named as such. This Agreement and any amendment thereto shall be enforceable even without the signature of any Broker referenced herein. The broker(s) are express third party beneficiaries to this Agreement.

c. Disclaimer: Buyer and Seller have not relied upon any advice or representations of Brokers other than what is included in this Agreement. Brokers shall have no duty to inspect the Property or to advise Buyer or Seller on any matter relating to the Property which could have been revealed through a survey, appraisal, title search, Official Georgia Wood Infestation Report, utility bill review, septic system inspection, well water test, tests for radon, asbestos, mold, methamphetamine, and lead based paint; moisture test of stucco or synthetic stucco, inspection of the Property by a professional, construction expert, structural engineer or environmental engineer; review of this Agreement and transaction by an attorney, financial planner, mortgage consultant or tax consultant; and consulting appropriate governmental officials to determine, among other things and without limitation, the zoning of Property, the propensity of the Property to flood, flood zone certifications, whether any condemnation action is pending or has been filed or other nearby governmental improvements are planned. Buyer and Seller acknowledge that Broker does not perform or have expertise in any of the above tests, inspections, and reviews or in any of the matters handled by the professionals referenced above. Buyer and Seller should seek independent expert advice regarding any matter of concern to them relative to the Property and this Agreement. Buyer and Seller acknowledge that Broker shall not be responsible to monitor, supervise, or inspect any construction or repairs to Property and such tasks clearly fall outside the scope of real estate brokerage services. If Broker has written any special stipulations herein, the party for whom such special stipulations were written: a) confirms that each such stipulation reflects the party’s complete understanding as to the substance and form of the special stipulations; b) hereby adopts each special stipulation as the original work of the party; and c) hereby agrees to indemnify and hold Broker who prepared the stipulation harmless from any and all claims, causes of action, suits, and damages arising out of or relating to such special stipulation. Buyer acknowledges that when and if Broker answers a question of Buyer or otherwise describes some aspect of the Property or the transaction, Broker is doing so based upon information provided by Seller rather than the independent knowledge of Broker (unless Broker makes an independent written disclosure to the contrary).

11. Time Limit of Offer

The Time Limit of the Offer shall be the date and time referenced herein when the Offer expires unless prior to that date and time both of the following have occurred: (a) the Offer has been accepted by the party to whom the Offer was made; and (b) notice of acceptance of the Offer has been delivered to the party who made the Offer.

C. OTHER TERMS AND CONDITIONS

1. Notices

a. Generally: All notices given hereunder shall be in writing, legible and signed by the party giving the notice. In the event of a dispute regarding notice, the burden shall be on the party giving notice to prove delivery. The requirements of this notice paragraph shall apply even prior to this Agreement becoming binding. Notices shall only be delivered: (1) in person; (2) by courier, overnight delivery service or by certified or registered U.S. mail (hereinafter collectively “Delivery Service”); or (3) by e mail or facsimile. The person delivering or sending the written notice signed by a party may be someone other than that party

F201, Purchase and Sale Agreement, Page 4 of 8 01/01/21

Copyright©

by Georgia Association of REALTORS®,

PURCHASE AND SALE AGREEMENT EXAMPLE

b. Delivery of Notice: A notice to a party shall be deemed to have been delivered and received upon the earliest of the following to occur: (1) the actual receipt of the written notice by a party; (2) in the case of delivery by a Delivery Service, when the written notice is delivered to an address of a party set forth herein (or subsequently provided by the party following the notice provisions herein), provided that a record of the delivery is created; (3) in the case of delivery electronically, on the date and time the written notice is electronically sent to an e mail address or facsimile number of a party herein (or subsequently provided by the party following the notice provisions herein). Notice to a party shall not be effective unless the written notice is sent to an address, facsimile number or e mail address of the party set forth herein (or subsequently provided by the party following the notice provisions herein).

c. When Broker Authorized to Accept Notice for Client: Except where the Broker is acting in a dual agency capacity, the Broker and any affiliated licensee of the Broker representing a party in a client relationship shall be authorized agents of the party and notice to any of them shall for all purposes herein be deemed to be notice to the party. Notice to an authorized agent shall not be effective unless the written notice is sent to an address, facsimile number or e mail address of the authorized agent set forth herein (or subsequently provided by the authorized agent following the notice provisions herein). Except as provided for herein, the Broker’s staff at a physical address set forth herein of the Broker or the Broker’s affiliated licensees are authorized to receive notices delivered by a Delivery Service. The Broker, the Broker’s staff and the affiliated licensees of the Broker shall not be authorized to receive notice on behalf of a party in any transaction in which a brokerage engagement has not been entered into with the party or in which the Broker is acting in a dual agency capacity. In the event the Broker is practicing designated agency, only the designated agent of a client shall be an authorized agent of the client for the purposes of receiving notice.

2. Default

a. Remedies of Seller: In the event this Agreement fails to close due to the default of Buyer, Seller’s sole remedy shall be to retain the earnest money as full liquidated damages. Seller expressly waives any right to assert a claim for specific performance. The parties expressly agree that the earnest money is a reasonable pre estimate of Seller’s actual damages, which damages the parties agree are difficult to ascertain. The parties expressly intend for the earnest money to serve as liquidated damages and not as a penalty.

b. Remedies of Buyer: In the event this Agreement fails to close due to the default of Seller, Buyer may either seek the specific performance of this Agreement or terminate this Agreement upon notice to Seller and Holder, in which case all earnest money deposits and other payments Buyer has paid towards the purchase of the Property shall be returned to Buyer following the procedures set forth elsewhere herein.

c. Rights of Broker: In the event this Agreement is terminated or fails to close due to the default of a party hereto, the defaulting party shall pay as liquidated damages to every broker involved in this Agreement the commission the broker would have received had the transaction closed. For purposes of determining the amount of liquidated damages to be paid by the defaulting party, all written agreements establishing the amount of commission to be paid to any broker involved in this transaction are incorporated herein by reference. The liquidated damages referenced above are a reasonable pre estimate of the Broker(s) actual damages and are not a penalty.

d. Attorney’s Fees: In any litigation or arbitration arising out of this Agreement, including but not limited to breach of contract claims between Buyer and Seller and commission claims brought by a broker, the non prevailing party shall be liable to the prevailing party for its reasonable attorney’s fees and expenses.

3. Risk of Damage to Property Seller warrants that at the time of closing the Property and all items remaining with the Property, if any, will be in substantially the same condition (including conditions disclosed in the Seller’s Property Disclosure Statement or Seller’s Disclosure of Latent Defects and Fixtures Checklist) as of the Offer Date, except for changes made to the condition of Property pursuant to the written agreement of Buyer and Seller. At time of possession, Seller shall deliver Property clean and free of trash, debris, and personal property of Seller not identified as remaining with the Property. Notwithstanding the above, if the Property is destroyed or substantially destroyed prior to closing, Seller shall promptly give notice to Buyer of the same and provide Buyer with whatever information Seller has regarding the availability of insurance and the disposition of any insurance claim. Buyer or Seller may terminate this Agreement without penalty not later than fourteen (14) days from receipt of the above notice. If Buyer or Seller do not terminate this Agreement, Seller shall cause Property to be restored to substantially the same condition as on the Offer Date. The date of closing shall be extended until the earlier of one year from the original date of closing, or seven (7) days from the date that Property has been restored to substantially the same condition as on the Offer Date and a new certificate of occupancy (if required) is issued.

4. Other Provisions

a. Condemnation: Seller shall: (1) immediately notify Buyer if the Property becomes subject to a condemnation proceeding; and (2) provide Buyer with the details of the same. Upon receipt of such notice, Buyer shall have the right, but not the obligation for 7 days thereafter, to terminate this Agreement upon notice to Seller in which event Buyer shall be entitled to a refund of all earnest money and other monies paid by Buyer toward the Property without deduction or penalty. If Buyer does not terminate the Agreement within this time frame, Buyer agrees to accept the Property less any portion taken by the condemnation and if Buyer closes, Buyer shall be entitled to receive any condemnation award or negotiated payment for all or a portion of the Property transferred or conveyed in lieu of condemnation.

b. Consent to Share Non Public Information: Buyer and Seller hereby consent to the closing attorney preparing and distributing an American Land Title Association (“ALTA”) Estimated Settlement Statement Combined or other combined settlement statement to Buyer, Seller, Brokers and Brokers’ affiliated licensees working on the transaction reflected in this Agreement for their various uses.

c. Duty to Cooperate: All parties agree to do all things reasonably necessary to timely and in good faith fulfill the terms of this Agreement. Buyer and Seller shall execute and deliver such certifications, affidavits, and statements required by law or reasonably requested by the closing attorney, mortgage lender and/or the title insurance company to meet their respective requirements.

d. Electronic Signatures: For all purposes herein, an electronic or facsimile signature shall be deemed the same as an original signature; provided, however, that all parties agree to promptly re execute a conformed copy of this Agreement with original signatures if requested to do so by, the buyer’s mortgage lender or the other party.

2021 by Georgia Association of REALTORS®,

Purchase and Sale Agreement,

e. Entire Agreement, Modification and Assignment: This Agreement constitutes the sole and entire agreement between all of the parties, supersedes all of their prior written and verbal agreements and shall be binding upon the parties and their successors, heirs and permitted assigns. No representation, promise or inducement not included in this Agreement shall be binding upon any party hereto. This Agreement may not be amended or waived except upon the written agreement of Buyer and Seller. Any agreement to terminate this Agreement or any other subsequent agreement of the parties relating to the Property must be in writing and signed by the parties. This Agreement may not be assigned by Buyer except with the written approval of Seller which may be withheld for any reason or no reason. Any assignee shall fulfill all the terms and conditions of this Agreement.

f. Extension of Deadlines: No time deadline under this Agreement shall be extended by virtue of it falling on a Saturday, Sunday or federal holiday except for the date of closing

g. GAR Forms: The Georgia Association of REALTORS®, Inc. (“GAR”) issues certain standard real estate forms. These GAR forms are frequently provided to the parties in real estate transactions. No party is required to use any GAR form. Since these forms are generic and written with the interests of multiple parties in mind, they may need to be modified to meet the specific needs of the parties using them. If any party has any questions about his or her rights and obligations under any GAR form, he or she should consult an attorney. Provisions in the GAR Forms are subject to differing interpretations by our courts other than what the parties may have intended. At times, our courts may strike down or not enforce provisions in our GAR Forms, as written. No representation is made that the GAR Forms will protect the interests of any particular party or will be fit for any specific purpose. The parties hereto agree that the GAR forms may only be used in accordance with the licensing agreement of GAR. While GAR forms may be modified by the parties, no GAR form may be reproduced with sections removed, altered or modified unless the changes are visible on the form itself or in a stipulation, addendum, exhibit or amendment thereto.

h. Governing Law and Interpretation: This Agreement may be signed in multiple counterparts each of which shall be deemed to be an original and shall be interpreted in accordance with the laws of Georgia. No provision herein, by virtue of the party who drafted it, shall be interpreted less favorably against one party than another. All references to time shall mean the time in Georgia. If any provision herein is to be unenforceable, it shall be severed from this Agreement while the remainder of the Agreement shall, to the fullest extent permitted by law, continue to have full force and effect as a binding contract.

i. No Authority to Bind: No Broker or affiliated licensee of Broker, by virtue of this status, shall have any authority to bind any party hereto to any contract, provisions herein, amendments hereto, or termination hereof. However, if authorized in this Agreement, Broker shall have the right to accept notice on behalf of a party. Additionally, any Broker or real estate licensee involved in this transaction may perform the ministerial act of filling in the Binding Agreement Date. In the event of a dispute over the Binding Agreement Date, it may only be resolved by the written agreement of the Buyer and Seller.

j. Notice of Binding Agreement Date: The Binding Agreement Date shall be the date when a party to this transaction who has accepted an offer or counteroffer to buy or sell real property delivers notice of that acceptance to the party who made the offer or counteroffer in accordance with the Notices section of the Agreement. Notice of the Binding Agreement Date may be delivered by either party (or the Broker working with or representing such party) to the other party. If notice of accurate Binding Agreement Date is delivered, the party receiving notice shall sign the same and immediately return it to the other party.

k. Statute of Limitations: All claims of any nature whatsoever against Broker(s) and/or their affiliated licensees, whether asserted in litigation or arbitration and sounding in breach of contract and/or tort, must be brought within two (2) years from the date any claim or cause of action arises. Such actions shall thereafter be time barred.

l. Survival of Agreement: The following shall survive the closing of this Agreement: (1) the obligation of a party to pay a real estate commission; (2) any warranty of title; (3) all written representations of Seller in this Agreement regarding the Property or neighborhood in which the Property is located; (4) the section on condemnation; (5) the obligations of the parties regarding ad valorem real property taxes; and (6) any obligations which the parties herein agree shall survive the closing or may be performed or fulfilled after the Closing.

m. Terminology: As the context may require in this Agreement: (1) the singular shall mean the plural and vice versa; and (2) all pronouns shall mean and include the person, entity, firm, or corporation to which they relate. The letters “N.A.” or “N/A”, if used in this Agreement, shall mean “Not Applicable”, except where the context would indicate otherwise.

n. Time of Essence: Time is of the essence of this Agreement.

5. Definitions

a. Banking Day: A “Banking Day” shall mean a day on which a bank is open to the public for carrying out substantially all of its banking functions. For purposes herein, a “Banking Day” shall mean Monday through Friday excluding federal holidays.

b. Binding Agreement Date: The “Binding Agreement Date” shall be the date when a party to this transaction who has accepted an offer or counteroffer to buy or sell real property delivers notice of that acceptance to the party who made the offer or counteroffer in accordance with the Notices section of the Agreement. Once that occurs, this Agreement shall be deemed a Binding Agreement.

c. Broker: In this Agreement, the term “Broker” shall mean a licensed Georgia real estate broker or brokerage firm and its affiliated licensees unless the context would indicate otherwise.

d. Business Day: A “Business Day” shall mean a day on which substantially all businesses are open for business. For all purposes herein, a “Business Day” shall mean Monday through Friday excluding federal holidays.

e. Material Relationship: A material relationship shall mean any actually known personal, familial, social, or business relationship between the broker or the broker’s affiliated licensees and any other party to this transaction which could impair the ability of the broker or affiliated licensees to exercise fair and independent judgment relative to their client.

Copyright© 2021 by Georgia Association of REALTORS®, Inc.

F201, Purchase and Sale Agreement, Page 6 of

SALE

6. WARNING TO BUYERS AND SELLERS: BEWARE OF CYBER FRAUD. Fraudulent e mails attempting to get the buyer and/or seller to wire money to criminal computer hackers are increasingly common in real estate transactions. Specifically, criminals are impersonating the online identity of the actual mortgage lender, closing attorney, real estate broker or other person or companies involved in the real estate transaction. In that role, the criminals send fake wiring instructions attempting to trick buyers and/or sellers into wiring them money related to the real estate transaction, including, for example, the buyer’s earnest money, the cash needed for the buyer to close, and/or the seller’s proceeds from the closing. These instructions, if followed, will result in the money being wired to the criminals. In many cases, the fraudulent email is believable because it is sent from what appears to be the email address/domain of the legitimate company or person responsible for sending the buyer or seller wiring instructions. The buyer and/or seller should verify wiring instructions sent by email by independently looking up and calling the telephone number of the company or person purporting to have sent them. Buyers and sellers should never call the telephone number provided with wiring instructions sent by email since they may end up receiving a fake verification from the criminals. Buyer and sellers should be on special alert for: 1) emails directing the buyer and/or seller to wire money to a bank or bank account in a state other than Georgia; and 2) emails from a person or company involved in the real estate transaction that are slightly different (often by one letter, number, or character) from the actual email address of the person or company.

7. LIMIT ON BROKER’S LIABILITY. BUYER AND SELLER ACKNOWLEDGE THAT BROKER(S):

a. SHALL, UNDER NO CIRCUMSTANCES, HAVE ANY LIABILITY GREATER THAN THE AMOUNT OF THE REAL ESTATE COMMISSION PAID HEREUNDER TO BROKER (EXCLUDING ANY COMMISSION AMOUNT PAID TO A COOPERATING REAL ESTATE BROKER, IF ANY) OR, IF NO REAL ESTATE COMMISSION IS PAID TO BROKER, THAN A SUM NOT TO EXCEED $100; AND

b. NOTWITHSTANDING THE ABOVE, SHALL HAVE NO LIABILITY IN EXCESS OF $100 FOR ANY LOSS OF FUNDS AS THE RESULT OF WIRE OR CYBER FRAUD.

8. Exhibits and Addenda

All exhibits and/or addenda attached hereto, listed below, or referenced herein are made a part of this Agreement.

If any such exhibit or addendum conflicts with any preceding paragraph (including any changes thereto made by the parties), said exhibit or addendum shall control:

 All Cash Sale Exhibit (F401) “_______”

 Back up Agreement Contingency Exhibit (F604) “_______”

 Closing Attorney Acting as Holder of Earnest Money Exhibit (F510) “_______”

Community Association Disclosure Exhibit (F322) “_______”

Condominium Resale Purchase and Sale Exhibit (F204) “_______”

Conventional Loan Contingency Exhibit (F404) “_______”

FHA Loan Contingency Exhibit (F407) “_______”

Lead Based Paint Exhibit (F316) “_______”

Lease Purchase and Sale Exhibit (F207) (to be used with F916) “_______”

Lease for Lease/Purchase Agreement (F916) (to be used with F207) “_______”

Legal Description Exhibit (F807 or other) “_______”

Loan Assumption Exhibit (F416) “_______”

Sale or Lease of Buyer’s Property Contingency Exhibit (F601) “_______”

Seller’s Property Disclosure Statement Exhibit (F301, F302, F304, F307 or F310) “_______”

Survey of Property as Exhibit “_______”

Temporary Occupancy Agreement for Seller after Closing Exhibit (F219) “_______”

USDA RD Loan Contingency Exhibit (F413) “_______”

VA Loan Contingency Exhibit (F410) “_______”

Other

Other

SPECIAL STIPULATIONS: The following Special Stipulations, if conflicting with any exhibit, addendum, or preceding paragraph (including any changes thereto made by the parties), shall control:

Additional Special Stipulations are attached.

by Georgia Association

By signing this Agreement, Buyer and Seller acknowledge that they have each read and understood this Agreement and agree to its terms.

Buyer Acceptance and Contact Information

1 Buyer’s Signature

Print or Type Name Date

Buyer’s Address for Receiving Notice

Buyer’s Phone Number:

Buyer’s E mail Address

2 Buyer’s Signature

Print or Type Name Date

Buyer’s Address for Receiving Notice

Buyer’s Phone Number:

Buyer’s E mail Address

Additional Signature Page (F267) is attached

Buyer

Buyer

Seller Acceptance and Contact Information

1 Seller’s Signature

Print or Type Name Date

Seller’s Address for Receiving Notice

Seller’s Phone Number:

Seller’s E mail Address

2 Seller’s Signature

Print or Type Name Date

Seller’s Address for Receiving Notice

Seller’s Phone Number:

Seller’s E mail Address

Additional Signature Page (F267) is attached

Seller Brokerage Firm

Broker/Affiliated

Licensee’s

Number

Licensee’s Email Address

Phone Number

Number

Number

A home appraisal is an unbiased estimate of the true (or fair market) value of what a home is worth. All lenders order an appraisal during the mortgage loan process so that there is an objective way to assess the home’s market value and ensure that the amount of money requested by the borrower is appropriate. An appraiser may not know of all of the improvements or repairs that you as a homeowner have made; an easy task to communicate this to the appraiser is for an owner to do is complete a one-pager with all of this information.

If an appraisal comes in below contact price, a Seller will have to lower the price of the house to sell.

Quick fixes for improving the value of your home your agent should have told you by D. Scott Murphy, Appraiser:

Landscaping

Too much landscaping and you waste your money but enough to create good curb appeal is well worth it.

Paint

Painting is relatively inexpensive and probably the No. 1 return on investment. It makes a great first impression for a buyer to enter a freshly painted home. Keep it neutral to appeal to the largest pool of buyers.

Wash your Windows

May not seem significant but it is an easy do-it-yourself project and is often overlooked and helps give your house that well-kept and maintained feel. Along with this you will most likely be removing your screens to give a cleaner look and allow more light in. Store the screens for the buyer’s future use.

Update the Hardware throughout the House

An easy do-it-yourself project that will go a long way to improving the value of your home.

De-clutter and Remove Personal Items

This is a common recommendation of agents and stagers. Appraisers put themselves in the shoes of a typical buyer and this will go a long way with a buyer as well as the appraiser.

PURCHASE AND SALE AGREEMENT EXAMPLE

Bedrooms

Do you have as many as you think you have? The bedroom count has the most impact on value. Many homeowners convert two bedrooms to one, removed doors, windows and closets required for a room to be counted as a bedroom.

Allowances

Rather than give an allowance, your seller will be better off replacing the carpet, or painting the house, etc. The new carpet or new paint will draw more offers and generally result in higher offers than the offer with the allowance (taking into consideration the cost to complete the repair). Also, most lenders do not allow significant allowances and it could cause problems with the appraisal and loan approval.

Driveways

Seriously damaged, cracked driveways will deter buyers. They also may create a safety hazard and be flagged by the home inspector and appraiser. The slope of the driveway, while out of the control of the seller, must be considered as FHA may not approve financing if the slope exceeds 14%.

Taxes and Utility Bills

Get your financial “house” in order. Buyers will be looking at many homes and comparing tax bills and utility bills.

Plan ahead as tax bills can only be contested during a 45-day window each year (usually around March/April/ May). Think about added insulation, weather stripping and completing other energy conserving projects which will result in a series of lower utility bills at the time of listing. Most utility companies offer free home energy audits.

Closets

Most homes lack sufficient closet space. There are numerous options for closet organization systems.

THE

- POTENTIAL ISSUES

BUYER’S RIGHT TO INSPECT

As a component of the Purchase and Sale Agreement, a Buyer has the right to inspect your property during their due diligence. Preparing for the home inspection is important as it prepares you for any issues that may arise as a result. Identifying any items that need repaired prior to a Buyer discovering them better positions you to deal with possible negotiations that may arise after the initial contract has been negotiated. The Seller is not obligated to agree to pay for repairs- these items are all negotiable. Additionally, if mold or radon is found within the home, the Buyer could request remediation of these items as well.

The ten most common issues that arise during a home inspection are:

1. Faulty Wiring

Worn or outdated systems and homeowner additions are the most common defects, especially in older homes. Electrical system problems are safety related and require immediate attention.

2. Roof Problems

Improperly installed and aged surfaces occur frequently. We also see poorly installed or missing flashing at transition areas. Repairs may be simple, or the entire roof may need to be replaced. Follow up any adverse roofing system findings with an evaluation by a competent roofer.

3. Heating/Cooling System Defects

Improper installations, inadequate maintenance and aged components are common.

4. Plumbing Issues

The most common defects are leaking, outdated or problematic systems such as polybutelene. Repairs can often be made, but on occasion total system replacement is the only solution.

5. Inadequate Insulation and Ventilation in Attic Poor insulation and poor ventilation cause excessive utility costs and lack of occupant comfort.

6. Whole House Is Poorly Maintained

Deferred maintenance represents a potential high-cost situation to bring the home back into condition. If the homeowner did not properly care for the home, someone will need to later.

7. Poor Drainage Around the Structure

Water needs to drain away from the structure at its perimeter to prevent water intrusion. Roof gutters and downspouts can sometimes be added to rectify site drainage problems.

8. Air and Water Penetrating Cracks And Window Perimeters At Exterior. Structure cracks and separations at the windows can allow water into the wall cavities, which is conducive to mold growth.

9. Minor Structural Damage

Cut and broken trusses are often seen in attic cavities and on occasion we also see structural components missing. Usually repairs are needed, however we find it is rarely an imminent safety hazard.

10. Potential Environmental Problems

Signs of mold growth represents the latest environmental scare. Homebuyers should consider a complete environmental evaluation of the property before buying.

POTENTIAL ISSUES

Mold

Mold is a type of fungus, and there are thousands of species of mold in houses, ranging from the mold that grows on bread and fruit to the mold that tends to populate humid spaces. Some types of mold are more toxic than others, and consistent exposure to large quantities of mold can cause health problems such as breathing difficulties, coughing and worsening asthma. These symptoms are more likely to occur in people with compromised immune systems and those who have allergies or asthma. Brief exposure to mold is unlikely to cause serious problems, but you’ll need to get the mold removed from the home as soon as possible to be safe.

Mold grows in moisture, and small amounts of mold are common in basements, near unsealed windows, under air conditioning units and other damp areas. If you find mold in an obviously damp area, it’s probably just a sign that the area has not been properly cared for. Sometimes mold can indicate a prior problem with the house, such as a flood. If there is a large, visible overgrowth of mold, it’s important to find out what caused the mold. Mold could be your first clue that there’s another serious problem with the home.

There’s no right or wrong answer as to purchasing a home with mold issues, however it can add a few sales complications. Not every home has a mold problem or is at risk of developing one. Every home has mold in small quantities – it’s normal. The possibility for serious mold growth depends solely on moisture accumulation. Bathrooms and other poorly ventilated, moisture-prone rooms, attics, basements/crawlspaces, behind water heaters, and other high-humidity or water damaged areas are all prime locations for mold growth.

Buying a house with mold in basement or attic, or even buying a house with mold in crawlspace could be problematic. If you see mold or mold pops-up in an inspection, it is well worth the money for testing and a remediation quote. You should also plan on postponing your move-in date till after cleanup. Rest assured, addressing the issue is often far easier and less expensive to resolve than people realize. Do your due diligence before putting in an offer – and offer accordingly. Mold does effect appraisal value and is often a surprising ‘find’ during inspection as both sellers and buyers tend to overlook eyeballing basements, crawlspaces, and attics for mold issues.

There are several companies specializing in mold removal. They will determine why the mold is growing, investigate any areas that are moist, and repair the source of the moisture. A dehumidifier can help prevent the mold from growing out of control and will also prevent the mold from coming back after it’s gone. Even dead mold can cause allergies, so simply killing the mold with bleach or other substances isn’t enough. The mold has to be completely removed.

POTENTIAL ISSUES

Radon

Radon is a colorless, odorless radioactive gas that is produced by decaying uranium. It is present in nearly all soils, and very low levels of radon are found in the air we breathe every day. The problem occurs when radon gas enters your home and gets trapped. Long-term exposure to high levels of radon can cause lung cancer. The gas moves from the soil into a home. Although it can seep directly through pores in concrete, the worst entry points are gaps in walls and floors. Any house, of any age, in any state can have elevated radon levels. It really depends on the way your specific house interacts with the surrounding soil. Your neighbor’s radon level may differ significantly from yours.

Testing is the only way to know your home’s radon levels. There are no immediate symptoms that will alert you to the presence of radon. It typically takes years of exposure before any problems surface. The US EPA, Surgeon General, American Lung Association, American Medical Association, and National Safety Council recommend testing your home for radon because testing is the only way to know your home’s radon levels.

Radon is a national environmental health problem. Elevated radon levels have been discovered in every state. The US EPA estimates that as many as 8 million homes throughout the country have elevated levels of radon. Current state surveys show that 1 home in 5 has elevated radon levels.

Stucco

Stucco siding is a type of hand-troweled masonry plaster consisting of cement, water, and sand. Due to its brittle nature, stucco siding will crack if a house foundation settles. It simply isn’t the best choice in regions where soil is high in clay, notorious for swelling and causing foundations to shift. Over time, even stucco on homes with firm foundations can develop hairline cracks. While small cracks won’t affect the integrity of the siding and can often be repaired without calling a pro, cracks of 1/4-inch or wider spell trouble such as water intrusion, unsealed bottom edges of foam, gaps around decorative trim, and windows and doors that are not flashed and caulked. Water intrusion can lead to even bigger problems. As time goes on, these homes may be prone to large multiple cracks and/or chunks of stucco falling off, and the only real option is to have the faulty siding removed and replaced by a reputable contractor.

If you are selling a stucco home, you may want to further inspect the condition of the stucco and the cost can range from $500 - $1,200 for a stucco inspection.

THE INSPECTION - POTENTIAL ISSUES

Lead Based Paint

If your house, townhouse or condominium was built before 1978, there is a good chance it has lead-based paint. In 1978, the federal government banned consumer uses of lead-containing paint, but some states banned it even earlier. Lead from paint, including lead-contaminated dust, is one of the most common causes of lead poisoning.

Lead paint is still present in millions of homes, sometimes under layers of newer paint. If the paint is in good shape, the lead paint is usually not a problem. Deteriorating lead-based paint (peeling, chipping, chalking, cracking, damaged, or damp) is a hazard and needs immediate attention. It may also be a hazard when found on surfaces that children can chew or that get a lot of wear-and-tear, such as windows and window sills, doors and door frames, and stairs, railings, banisters, and porches.

Be sure to keep all paint in excellent shape and clean up dust frequently. Lead dust can also be tracked into the home from soil outside that is contaminated by deteriorated exterior lead-based paint and other lead sources, such as industrial pollution and past use of leaded gasoline. Renovation, repair, or painting activities can create toxic lead dust when painted surfaces are disturbed or demolished.

Termites and Termite Bonds

Termites typically are small-white-soft-bodied insects, which feed on wood. There are two species of termites: the dry wood termites and the subterranean termites. They usually live in a form of groups and societies; wings are an indication that the termite is reproductive. The termites live in colonies and once the little termites grow to a certain extent, they form a swarm, which is a moving crowd, and maintain a colony. When signs of termite infestation are not noticed earlier, the damage can escalate to a higher level, which can affect the structure of the building. Most people see the termites when they have caused structural damage, which may cost them thousands to repair. It is essential for a property owner to beware of the termite infestation as early as possible to avoid losses in the future, as they, can put preventive measures or seek pesticides to kill termites. Mitigating termite damage is possible but can be quite costly.

A termite letter is not required by law in Georgia. Up until a few years ago, the seller always provided the termite letter. Present day, the lender is the one whom decides if one is needed or not; it is common for buyers to add a stipulation that the seller provide either a termite letter or proof of bond.

It costs, on average, $45 to obtain a termite letter. It is money well spent, and you should order one to be sure you are safe from termites.

The price of a Termite Bond may run between $500 and $2000 dollars which is a one-time cost. Usually, an inspection is done once a year with most companies charging an extra fee for this service. Some contracts have extra fees if extra services are needed. It is strongly encouraged to obtain a termite bond with a qualified pest control company

Polybutylene Pipe

Polybutylene is a form of plastic resin that was used extensively in the manufacture of water supply piping from 1978 until 1995. Due to the low cost of the material and ease of installation, polybutylene piping systems were viewed as “the pipe of the future” and were used as a substitute for traditional copper piping.

You can sometimes tell if you have Polybutylene pipes as underground water mains are usually blue but may be gray or black (do not confuse black poly with polyethelene pipe). It is usually 1/2” or 1” in diameter, and it may be found entering your home through the basement wall or floor, concrete slab coming up through your crawlspace; frequently it enters the home near the water heater. Your main shutoff valve is attached to the end of the water main. Also, you should check at the water meter that is located at the street, near the city water main. It is wise to check at both ends of the pipe because we have found cases where copper pipe enters the home, and poly pipe is at the water meter. Obviously, both pipes were used and connected somewhere underground.

Interior Polybutylene pipes used inside your home can be found near the water heater, running across the ceiling in unfinished basements, and coming out of the walls to feed sinks and toilets.

In some regions of the country plumbers used copper “stub outs” where the pipe exits a wall to feed a fixture, so seeing copper here does not mean that you do not have poly.

While scientific evidence is scarce, it is believed that oxidants in the public water supplies, such as chlorine, react with the polybutylene piping and acetal fittings causing them to scale and flake and become brittle. Micro-fractures result, and the basic structural integrity of the system is reduced. Thus, the system becomes weak and may fail without warning causing damage to the building structure and personal property. It is believed that other factors may also contribute to the failure of polybutylene systems, such as improper installation, but it is virtually impossible to detect installation problems throughout an entire system.

There is really no maintenance of the piping required of the homeowner, but leaks can occur at the pipe joints. In most cases, the resolution is the replacement of the pipes.

CLOSING

Closing is when the house buyer and seller fulfill all of the agreements made in the sales contract. In more literal terms, it is about the transfer of money and documents so that you, the seller, can transfer ownership and possession of the property free and clear to the buyer. Also, you will pay off all loans that you are still carrying on the house and pay all of the parties who contributed documents or services to facilitate the sale and closing.

If you agreed to make any repairs to the property or take any other action to improve it, or to take action to clear title to the property (such as removing a shed encroaching onto a neighbor’s property), all of these agreed-upon endeavors should be completed by the closing as well. The exception would be if you and the buyer made a separate contract for the work to be completed at a later date.

A closing is often called “settlement” because the seller, together with the buyer, the buyer’s lender, the sales agents, and the seller’s lender, are “settling up” among yourselves and all of the other parties who have provided services or documents to the transaction. In Georgia, closings are handled by attorneys. In a cash purchase, the attorney represents the Buyer. When the Buyer is obtaining a loan, the attorney represents the lender. To avoid conflict, the attorney handling the closing may not represent any other parties of the transaction. If the Buyer/Borrower wants legal representation, they would need to hire independent counsel.

Sellers’ Tasks

Your tasks as seller during the closing period are to:

• Maintain the house in good condition

• Negotiate and perhaps repair something the buyer’s inspector finds

• Notify your utility companies of a final service date

• Prepare to Move

THE INSPECTION - POTENTIAL ISSUES

CLOSING DAY

The day your home transaction closes is the day your deed is sent to be filed at the county courthouse. You and the buyer will sign a stack of closing documents.

All bills will be paid, such as agent commissions, mortgage payoffs, and down payments. You will receive a proceeds check if one is due to you.

The buyer receives the keys, remotes for the garage doors, and possibly receipts from any work agreed to be done.

What to bring on Closing Day:

• The deed to your home, if the home is paid off and has no mortgage or liens

• Photo ID – a driver’s license or passport

• A certified check, if required, in the amount told to you by escrow

• The keys and security codes for the house

Don’t forget to gather warranty and instruction books for heating, cooling, and plumbing systems and for appliances that will stay with the house. Leave them for the buyer when you move out.

THE INSPECTION - POTENTIAL ISSUES

WHAT THE SELLER PAYS

What the seller pays at closing depends partly on local law and practice, and partly on the terms negotiated in the sales contract.

Just remember that the contract rules. You can’t decide you don’t want to pay something that was already agreed to by both parties and written in your contract — unless you can get your buyer to agree. Of course, that means amending the paperwork, which could mean delaying the closing.

• Typical seller expenses

• The outstanding mortgage

• Real estate commissions

• Property taxes, utility bills, homeowner’s insurance, and condominium dues, if any are due (most of this is prorated at closing)

• Escrow, title and/or attorney fees

If you live in an area where home warranties are popular, this could be another expense. Warranties are a kind of insurance policy that guarantee for a year the mechanical systems and appliances.

Because whatever you agreed to pay at closing is deducted from your selling price or proceeds. That is, unless your sales price doesn’t cover the total cost of paying off your loan and the other costs of sale.

PLANNING YOUR MOVE

CHECKLIST BEFORE THE MOVE

lt’s a given that moving can be stressful. However, if you cross off the items on the following checklist as you go, your advance planning may pay off with a welcome reduction in stress levels.

Here’s the moving checklist you’ll need to prepare for your move:

8 Weeks Before the Move

• Get organized: Set aside a folder or file where you can put all your move-related paperwork. Dedicate a notebook as your moving notebook for all your notes.

• Start sorting: Decide what to keep, discard or donate. If you’re moving to a smaller place, be aggressive in your decision making.

• Research moving companies: Go online to check for moving companies with positive reviews. Ask friends and family if they have any references for moving companies. Take a week or two to research. You’re not in rush mode quite yet.

7 Weeks Before the Move

• Get supplies: Buy packing materials: boxes, tape, markers and bubble wrap.

• Plan a garage sale: As you go through your possessions, you’ll find things you don’t want to move. It’s a perfect time to lighten your load. In the process, you’ll make a few bucks at the garage sale to spend on moving expenses.

6 Weeks Before the Move

• Notify Schools: If you have kids, tell the staff at their schools of the impending move. Get copies of their school records and check into the enrollment process at the schools near your new residence.

• Medical Records: Check with your doctor to get copies of your family’s medical records.

5 Weeks Before the Move

• Book a moving company: Thanks to your research, you are ready to pick your movers. Pick a company you feel confident with and confirm the date, time, and details of your move.

PLANNING YOUR MOVE

CHECKLIST BEFORE THE MOVE

4 Weeks Before the Move

• Start packing non-essentials: Begin boxing up the things you won’t need right away. Make sure to label the boxes.

• Notify your landlord: If you’re moving from a rental, let your landlord know. Find out when you can have your security deposit returned.

• Notify your building: If you are moving to or from a condominium building which requires scheduling of elevators, be sure to set this up.

3 Weeks Before the Move

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Strategize your food situation: Use up food items that you don’t want to move. Plan ahead to have nothing left in your freezer by your move date. Same goes for your pantry, make a plan to consume anything that’s already open.

• Pets and plants: Make arrangements to get your animals and plants to your new home.

• Change your address: Complete a change of address form on the USPS website. Notify banks and credit cards of your new address.

• Transfer insurance: If your current home is covered, check with your agent to transfer the policy to your new home.

• Take care of your car: Have your car serviced, especially if you’re embarking on a long-distance

PLANNING YOUR MOVE

CHECKLIST BEFORE THE MOVE

2 Weeks Before the Move

• Pack with a vengeance: Now’s the time to start boxing up most everything left in your home. Again, make sure to label everything to ensure a smooth transition at your new place.

• Coordinate your valuables: If you have jewelry, heirlooms or other valuable items, sequester them from the main move. You don’t want valuable items mixed up with your other packed items. Keep them in a safe place so you can transport them yourself.

• Notify utilities: Start the process of closing out utility service at your current place and getting utilities set up at your new residence.

• Make a clean move: If your new place needs a thorough cleaning, make arrangements to have it scrubbed before you arrive.

• At your disposal: Properly dispose of any items that can’t be moved such as cleaning materials, propane, or paint.

1 Week Before the Move

• Confirm and confirm again: Check in with your mover to confirm the time and date of the move.

• Pack an essential kit: Prepare a suitcase with items you will need right away at your new place. Take it with you. Don’t load it on the truck.

1 Day Before the Move

• Keep important documents handy: Make sure to have any documents related to the move at the ready.

• Defrost and clear: Clean out your empty fridge and freezer. Check your cupboards and pantry for any open food items.

Moving Day

• Work with your movers: Help your movers by identifying fragile or large items right away. Be there when the movers load your items onto the truck. You’ll be responsible for verifying that they loaded everything, so it’s vital that you’re there to coordinate and answer questions. Sign the bill of lading when you’re satisfied that everything is accounted for.

• One final sweep: Before the movers pull away, do a final check of your home to make sure nothing was left behind.

STEPS FOR LISTING PREPARATION, SHOWINGS, INSPECTIONS & APPRAISALS

Our company and advisors are dedicated to ensuring that the listing and selling process are as efficient and safe as possible. The safety of our clients, advisors, staff and vendors is our number one concern. Below are steps we will take to ensure we move through the selling process while using social distancing precautions and adhering to best practices set forth by the Center for Disease Control and the World Health Organization.

Health Screenings

Prior to bringing potential buyers, appraisers, inspectors or other vendors into your home, our advisors will ask specific questions to clear them of any common symptoms.

• Have you had a cough?

• Have you had a fever?

• Have you had any difficulty breathing?

• Have you traveled in the continental US or outside the US recently?

Should a person answer yes, or display any symptoms before entering the home, the advisor will not provide access to the home and explain virtual alternatives. Each person attending the showing will be pre-screened via telephone and in person before entering your home.

Scheduled Home Showings

Showings will be scheduled in 20-minute blocks on one day a week. When scheduling showings, our advisor will ensure the person(s) understands what will be required of them during the showing.

• Wash and sanitize hands, wear gloves and/or masks as required by seller

• Social distancing at all times

• Ask the advisor for assistance if they would like any doors or cabinets opened during the presentation

The advisor will arrive at the home early to prepare a wash station with soap and disposable hand towels at the kitchen sink. The advisor will wash their hands for no less than 20 seconds. The advisor will then set up the following:

• Turn on all light switches

• Open closet doors and storage areas

YOUR MOVE

STEPS FOR LISTING PREPARATION, SHOWINGS, INSPECTIONS & APPRAISALS

Upon arrival, guests will be asked to:

• Remove their shoes or wear protective booties

• Go directly to the wash station where they will wash their hands under the direction of the advisor for 20 seconds

• Wear protective gloves and/or masks when required by seller

After each showing, the advisor will sanitize all doorknobs, handles and surfaces.

For home inspections, appraisal visits and other vendor appointments, our advisor will be present through the entire appointment and will ensure hand washing protocol is followed, gloves are worn by inspectors and all hard surfaces are sanitized as detailed above.

Virtual Showings and Open House

For buyers who have concerns about being out and about and buyers who may have common symptoms, the advisor will provide them a virtual tour experience. Through FaceTime, Google Hangouts, or other video conferencing platforms, our advisor will virtually showcase your home and answer any questions the customers may have.

We appreciate your trust during this process, and vow that the safety of you and your family are what matter most.

404.845.7724 | 1745 Peachtree Street, Atlanta, GA 30309, USA | 1411 North Highland Avenue NE, Atlanta, GA 30306, USA

©2022 Engel & Völkers. All rights reserved. Each brokerage independently owned and operated. All information provided is deemed reliable but is not guaranteed and should be independently verified. If your property is currently represented by a real estate broker, this is not an attempt to solicit your listing. Engel & Völkers and its independent license partners are Equal Opportunity Employers and fully support the principles of the Fair Housing Act.