3 Most Important Georgia For Sale By Owner Vacant Land Forms
If you want to sell by owner in Georgia, you may be wondering what documents you’ll need to sell the property. Since you’ll be responsible for doing all the paperwork yourself, you’ll want to start with some good templates. But which ones should you choose? And how will you know how to fill them out?
In this article, we’ll cover the main FSBO documents you’ll need to sell your Georgia property.
What are the main FSBO real estate forms?
Every land sale is a little bit different, but normally you will need some type of contract and a deed. We also recommend sellers make disclosures to buyers to provide legal protection. We discuss all three types of document below.
1. Purchase and sale agreement Georgia template
A purchase agreement is a legal document that outlines the rights and responsibilities of both parties involved in the transaction. It protects both buyers and sellers by clearly defining the terms of the sale. It helps to ensure all parties clearly understand their obligations, eliminating potential disputes or misunderstandings.
The Georgia Association of Realtors publishes standard contract forms real estate brokers are required to use, including one specifically for vacant land. These contract forms have a number of benefits. They’re very comprehensive covering almost any situation, they’re balanced between the rights of the buyer and seller, and they’re widely understood by everyone in the real estate industry.
For more discussion of the Georgia Association of Realtors Land Purchase and Sale Agreement, see our guide here.
Unfortunately, the Georgia Association of Realtors contract forms are not free for the public to use, so we can’t recommend them for everyone.
Instead, FSBO sellers looking for a free template may consider using contract form made available through the State Bar of Georgia. Their template ‘Contract For Sale of Real Estate’ is pretty simple - it’s only three pages in length. It also contains explicit explanations of the clauses in the contract.
2. Disclosures documents
Unlike many other states, Georgia law doesn't require sellers to fill out a specific disclosure form when selling a property. Georgia is considered a "buyer-beware" state, so buyers are expected to conduct their own due diligence on the property and assume the risk of any defects they discover after the sale.
But there's a very important exception to the "buyer beware" rule. This exception requires the seller to share information if they know something important about the property that the buyer doesn't know and can't easily find out, especially if this information could influence the buyer's decision to purchase.
For this reason, it may be worth providing your buyer with a list of property disclosures. One template available to do this is the Georgia Association of Realtors Seller’s Property Disclosure Statement. It’s very extensive and covers many things not applicable to vacant land sales such as HVAC systems and gutters. But there are relevant disclosures related to flooding/drainage, environmental concerns, and agricultural disclosures.
Although the checklist is long, you'll likely be stating No or Don’t Know for most items on the list.
3. Deeds
The deed is the document used to transfer ownership. There are actually several types of deed that can be used in a land sale. Georgia’s three main deed forms—listed from strongest to weakest warranty of title are 1) warranty deeds, 2) limited warranty deeds, and 3) quitclaim deeds.
A warranty deed offers the best protection for the buyer because the seller guarantees that the title is good and marketable.
A limited warranty deed limits the scope of the warranty by certain provisions in the deed. The seller only warrants that the property being sold is free from title defects arising during the time of the seller's ownership of the property.
If you’re using the Georgia Association of Realtors Land Purchase and Sale Agreement, the contract calls for the seller to provide a limited warranty deed.
A quit claim deed conveys only the interest held by the seller, if any at all. This type of deed is often used between family members.
For a comprehensive resource, check out the Georgia Department of Revenue publication ‘Deed Fundamentals.’ It’s quite lengthy at 400+ pages, but it goes through very extensive explanations and has example deeds to reference.
Your local county may also have deed forms available. For example, the Cobb County Superior Court Clerk website has a warranty deed and quit claim deed available for download.
Conclusion - Georgia contracts and forms
Navigating the process of selling a property by owner in Georgia requires understanding and properly using the essential FSBO documents. From the purchase and sale agreement to disclosure documents and deeds, each plays a crucial role in ensuring a smooth and legally sound transaction. By familiarizing yourself with these key documents and seeking guidance when needed, you can confidently handle the paperwork and successfully sell your property in Georgia.
Please consult your financial advisor, accountant, real estate attorney, or tax specialist. This article is for informational purposes and is not tax or legal advice.
