If you’re planning to buy a residence in Georgia, you probably feel excited about moving into your dream home. But what if the dream turns out to be a nightmare plagued by defects and other problems?
Although sellers must inform buyers about issues with the property, it does not always mean they will comply. Learning the rules about property disclosures can help to ensure you find out everything you need to know about a prospective new home.
What disclosures are required by the state?
Georgia is a buyer-beware state, meaning sellers are not required to complete a disclosure form. However, they must disclose any known material defects that could affect value or safety. Examples include issues like structural problems, roof leaks and environmental hazards, to name a few.
Sellers must also disclose special knowledge not apparent to the buyer, especially if the buyer is under a misapprehension about important facts. For example, if the seller knows about a defect in the property’s sewer system, they must inform the buyer.
Federal disclosure requirements
Under federal disclosure law, sellers must inform buyers about lead-based paint dangers in homes built before 1978. They must disclose the presence of any known lead-based paint, give buyers a pamphlet on its hazards and allow a 10-day inspection period. Additionally, federal law requires sellers to disclose environmental hazards, such as the presence of asbestos or radon.
If you suspect improper disclosures, start by reviewing the property records to look for discrepancies that may confirm your suspicion. Experienced legal guidance can help you decide how to move forward.