GAR Changes on Closing Costs – Part IV Buyer Beware
The standard contract used by licensed real estate brokers and agents is the form provided by the Georgia Association of Realtors (GAR) and known as the GAR Contract. This form is tweaked from year to year to clarify any terms that may have caused confusion in the past.
Georgia is a ‘Buyer Beware’ state that puts the responsibility of doing the inspections of the house and neighborhood onto the Buyer.
The 2023 GAR Contract changes the wording of. paragraph 9(b) by removing the word ‘duty’ and replacing it with ‘right.’ If the Buyer does not do any due diligence, the sale can still happen and the terms of the contract still apply. The buyer does not really have a duty or requirement to complete the due diligence before the purchase. The new contract also added a paragraph to clarify that the right to inspect continues until closing.
It is always a good idea to have the property inspected because the buyer takes the risk of buying the property ‘as is’
Regardless of the right of the buyer to inspect the property, the seller is still required to disclose any latent or hidden defects in the property that would not show in an inspection.
John C. Bennett is a real estate closing attorney and owner of Origin Title and Escrow, Inc.. Since 2003, Origin Title has handled real estate transactions – purchases, refinances, reverse mortgages – quickly and professionally. There will be no surprises, nothing misunderstood. Title searches are thorough and well-reasoned, to avoid unpleasant surprises later down the road. Calculate your closing costs in Georgia or Florida using our calculator or contact Origin Title using this form.