Here are some additional changes in the latest contract for Georgia Real Estate.
-Paragraph 12- Appraisal: There will be a new "Appraisal Contingency Exhibit" that would tie the sales price to the appraisal. If the appraisal came in low, there would be an amendment to lower the price, which would need to be agreed to by both parties.
-Paragraph 14: Agency and Brokerage Agreement. This requires that the buyer and seller become familiar with the commissions to be paid, and their obligations.
-Other items: There are more special stipulations available in MLS. The new Counter offer form clarifies that every counter offer rescinds all prior counter offers.
There is also a new "Source of Funds" exhibit.
If you have any questions, please feel free to contact me.
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