Purchase and Sale Agreement (Ga_PurchaseandSaleAgreement_wd2007.docx): If you are selling jointly fill in the name of both husband and wife and leave the Buyer’s name blank. “Lot” and “block” are part of the legal description of the property and can usually be found on the deed. Leave blank if you can’t find it and fill in City, County and Street address. Fill in all information that will not change plus your asking price at the top of paragraph 3, and print several copies. Paragraphs 3 and 4 can’t be filled out without a potential buyer who has agreed to your price and is prepared to say how much cash he or she can offer as a down payment and what kind of mortgage loan he or she will try to get.
Seller’s Property Disclosure Statement (Ga_Sellers_Disclosure_wd2007.docx): Fill in the blanks, make several copies, and attach a copy to each Contract For Purchase And Sale. The purpose of this document is to allow the Seller to tell the Buyer what he or she knows about the property. It does NOT require research. “Don’t know” or “Unknown” are perfectly acceptable answers.
Lead Paint Disclosure (Ga_LeadPaintDisclose.doc): If the home was built before 1978 Seller must tell Buyer of any knowledge of lead based paint hazards. Sale of the property might be contingent on an inspection of the property for lead paint hazards.
Additional forms and contracts for selling a house:
Homeowner’s Association Disclosure (Ga_Home_Assoc_Disclosure_wd2007.docx): Most homes built after 1980 are in sub-divisions where owners are required to join Homeowner’s Associations and pay dues to maintain common property. Fill out this form if your Buyer will be required to join a Homeowner’s Association.
Escrow Agreement (Ga_Escrow_Agreement_wd2007.docx): When selling a home with the help of a real estate broker, the broker usually holds the Buyer’s earnest money deposit. The Escrow Agreement provides a place for the Seller and Buyer to name a third party to hold earnest money and other deposits. It also specifies the conditions under which the deposit are returned to the Buyer or transferred to the Seller.
Counter Offer (Ga_Counter_Offer_wd2007.docx): This is essentially a blank form that provides a medium for either the Seller or Buyer to describe terms they would like made to the currently offered Purchase and Sale Agreement. For simple changes like the purchase price amount the Seller or Buyer can simply draw a line through the offered amount and write an acceptable price directly onto the Purchase and Sale Agreement. The Counter Offer provides a more formal method of making complex changes.
Forms for estimating net cash to Seller, and a Buyer’s ability to afford the asking price.
Net to Seller: This form allows user to enter estimates of all closing costs (balance on current mortgage loan, attorney’s fee, Title search, etc). The user manually subtracts the total estimated cost from the Purchase Price to get the amount of cash the Seller will receive at closing.
Buyer Pre-Qualification: This form records the prospective Buyer’s annual income and expenses and provides manual calculation formula to determine if Buyer can afford the asking price.
Buyer Pre-Qual Sample: Buyer Pre-Qualification form filled out for a Buyer with $48,000 annual income. Based on the sample Buyer’s monthly expenses, the form estimates that Buyer can afford a $144,000 house.