S PR I N G I S S U E 2017
Improved FORMally
REVIEWING CHANGES
TO THE 2017 GAR FORMS
A new year always brings changes to the GAR Forms. This year is no different except that more changes were made to the Purchase and Sale Agreement than in previous years. This article will explain the logic behind some of the major changes.
CHANGES TO THE PURCHASE AND SALE AGREEMENT {F20}
1 >>Survey Section Deleted {SECTIONS A2 AND B2} The GAR Purchase and Sale Agreement has long had
a provision allowing: a) the parties to attach a survey as an exhibit to the contract; b) the buyer to then get his or her own survey; and c) the buyer to then be able to terminate the contract if the new survey is materi- ally different from the survey attached to the contract. This entire section was deleted from the GAR Purchase and Sale Agreement because few listing agents were encouraging their sellers to attach a survey to the con- tract and as such, this provision was rarely being used. If you are someone who always uses this provision, the same survey language that was previously in the
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GAR Purchase and Sale Agreement will be included in the special stipulations section going forward and there- fore can still be added to the contract. While the survey section has been deleted, it does not mean that the buyer cannot get a survey. This right will still be provided to buyers as part of their rights to inspect the property. Of course, the best time to get this done is during the due diligence period when the buyer can terminate the contract for any reason whatsoever if the buyer is not satisfied with the survey. Should buyers be getting surveys? My answer has al-
ways been yes (except with a condominium unit) because it is the only way to determine the physical boundaries of the property being purchased. Every year, we see numer-
GEORGIA REALTOR® I 13
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