AI Georgia Purchase Agreement

ARTICLE I - PARTIES AND PROPERTY

1. Seller

Seller: [[Seller Full Legal Name(s)]], whose current address for notices is [[Seller Current Address]], [[City]], [[State]] [[ZIP Code]].

If Seller is married, both spouses typically must execute this Agreement and the deed unless the Property is Seller's separate property under Georgia law.

2. Buyer

Buyer: [[Buyer Full Legal Name(s)]], whose address for notices is [[Buyer Notice Address]].

Buyer shall take title as: [[Vesting Instructions - e.g., sole ownership, joint tenants with right of survivorship, tenants in common, tenancy by the entirety if married]].

3. Property Description

The real property being sold is commonly known as [[Property Street Address]], [[City]], Georgia [[ZIP Code]], located in [[County]] County (the "Property").

Legal Description: [[Full Legal Description or "See attached Exhibit A or current deed"]]

Tax Parcel ID: [[Parcel / Tax Identification Number]]

The Property includes the land, all improvements, structures, fixtures, and appurtenances attached thereto, including built-in appliances, central systems, and items that customarily pass with the deed under Georgia law, except only those items expressly excluded in Section 4.

4. Personal Property Included / Excluded

Included personal property (conveys at no additional cost): [[List Included Items - e.g., refrigerator, washer, dryer, window treatments, ceiling fans, garage door openers, security system components]]

Excluded items (Seller to remove prior to closing): [[List Excluded Items - e.g., specific light fixtures, staging furniture, personal property]]

Seller shall repair any damage caused by removal of excluded items.

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ARTICLE II - PURCHASE PRICE, EARNEST MONEY, AND FINANCING

5. Purchase Price

Total Purchase Price: [[Purchase Price in Words]] Dollars ($[[Purchase Price Numeric]]).

6. Earnest Money Deposit

Within [[Earnest Money Deposit Deadline - e.g., 3 business days]] after the Effective Date, Buyer shall deposit $[[Earnest Money Amount]] ("Earnest Money") with [[Escrow Agent / Closing Attorney Name and License Info]] ("Escrow Holder"), a Georgia-licensed closing attorney or licensed escrow agent. Earnest Money shall be held in a federally insured escrow or trust account. The Escrow Holder's address is [[Escrow Holder Address]].

Georgia custom and practice for most residential transactions is for earnest money to be held by the closing attorney. Failure to timely deliver Earnest Money constitutes a material default.

7. Financing Contingency (if applicable)

Buyer intends to obtain a new first mortgage loan in the amount of approximately $[[Intended Loan Amount]].

Financing Contingency Deadline: Buyer shall obtain a written loan commitment (or clear to close) from a lender on terms acceptable to Buyer no later than [[Financing Deadline Date]]. If Buyer is unable to obtain financing despite good faith efforts (as defined in this Agreement), Buyer may terminate and receive return of Earnest Money, subject to the terms of Section 29.

Buyer shall provide Seller written notice of loan denial or commitment within the deadline. Seller may request proof of Buyer's loan application and progress.

8. Appraisal Contingency

This Agreement is contingent upon the Property appraising for at least the Purchase Price. The appraisal contingency period ends [[Appraisal Deadline - typically aligned with financing or due diligence]]. If the appraisal is lower, the parties may renegotiate or Buyer may terminate and receive Earnest Money return.

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ARTICLE III - DUE DILIGENCE, INSPECTION, AND DISCLOSURES

9. Due Diligence / Inspection Period

Buyer shall have a due diligence / inspection period of [[Due Diligence Period Length - e.g., 10 business days / 14 calendar days]] from the Effective Date (the "Due Diligence Period").

During this period Buyer may, at Buyer's expense:

1. Conduct a whole-house professional inspection by a licensed or qualified inspector.

2. Obtain specialized inspections for roof, foundation, structural, HVAC, plumbing, electrical, septic/well, mold, radon, termites/wood-destroying organisms (WDO), pool/spa, chimney, 4-point, wind mitigation, and any other areas of concern.

3. Review the Seller's Property Disclosure Statement, title commitment, survey, HOA documents, permits, flood maps, tax records, and any other due diligence materials.

4. Perform any tests, surveys, or investigations Buyer deems appropriate.

Buyer may terminate this Agreement for any reason or no reason during the Due Diligence Period by delivering written notice to Seller prior to the end of the period. Upon proper termination, Earnest Money shall be returned to Buyer.

After the Due Diligence Period expires, Buyer's right to terminate for inspection-related reasons ends unless otherwise agreed in writing.

10. Seller's Property Disclosure Statement

Seller shall provide Buyer with a completed Seller's Property Disclosure Statement meeting the requirements of O.C.G.A. §44-1-16 within [[Disclosure Delivery Deadline - e.g., 3 days after Effective Date or prior to contract]]. Buyer acknowledges receipt or will receive the disclosure as part of due diligence.

11. Lead-Based Paint Disclosure (pre-1978 properties)

If the Property was built before 1978, Seller shall provide the required federal Lead-Based Paint Disclosure and EPA pamphlet prior to Buyer signing a purchase contract or within the timeframe required by federal law. Buyer shall have the opportunity to conduct a lead-based paint inspection or risk assessment.

12. HOA / Community Association Disclosure

If the Property is subject to an HOA, condominium association, or POA, Seller shall deliver or cause to be delivered within [[HOA Disclosure Deadline - e.g., 5 days]] after the Effective Date (or as required by law or contract):

• Current estoppel letter or certificate of assessments, dues, special assessments, and violations.
• Copies of governing documents, bylaws, rules, recent financials, and meeting minutes upon request.
• Any other documents required by O.C.G.A. or the association.

Buyer may terminate during due diligence if HOA disclosures reveal material issues.

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ARTICLE IV - TITLE, SURVEY, AND CLOSING

13. Title

Seller shall convey marketable fee simple title by general warranty deed (or limited warranty deed if agreed), free and clear of all liens, encumbrances, and exceptions except standard permitted exceptions and those approved by Buyer in writing. Title shall be examined by Buyer's closing attorney.

Buyer shall have until [[Title Objection Deadline]] to object in writing to any title matters. Seller shall have a reasonable time to cure. If uncured and material, Buyer may terminate and receive Earnest Money return.

14. Survey

Buyer may obtain a current survey or rely on an existing survey acceptable to the title insurer and lender. Any survey objection must be raised within the title objection period or due diligence period.

15. Closing

Closing shall occur on or before [[Closing Date]] (the "Closing Date") at the office of [[Closing Attorney Name and Firm]], a Georgia-licensed real estate attorney, located at [[Closing Attorney Address]]. Georgia law requires that a licensed Georgia attorney conduct the closing and handle the disbursement of funds.

At closing:

• Seller shall deliver the deed, keys, access devices, remote controls, codes, and all other items of personal property included in the sale.
• Seller shall provide a current Seller's affidavit, FIRPTA affidavit, and any other required closing documents.
• Property taxes, HOA dues, rents, and other items shall be prorated as of the Closing Date on a 30-day or actual-day basis as customary in the area.
• Georgia Transfer Tax (real estate transfer tax) of $1.00 per $1,000 (or fraction thereof) of the Purchase Price shall be paid at closing. The party responsible is: [[Seller / Buyer / Split as negotiated]].

Buyer shall pay any loan origination fees, discount points, and lender-required costs unless otherwise agreed.

16. Possession

Possession shall be delivered at closing unless otherwise agreed in writing. If Seller remains in possession after closing, the parties shall execute a separate post-closing possession agreement specifying rent, duration, security, and conditions.

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ARTICLE V - DEFAULT AND REMEDIES

17. Buyer Default

If Buyer defaults (fails to close or otherwise materially breaches after removal of contingencies), Seller may:

• Terminate this Agreement and retain the Earnest Money as liquidated damages (not a penalty), which the parties agree is a reasonable estimate of Seller's actual damages; or
• Pursue other remedies available at law or in equity.

18. Seller Default

If Seller defaults (fails to close or materially breaches), Buyer may:

• Terminate and receive return of all Earnest Money; and
• Pursue specific performance of this Agreement or damages at law or in equity; or
• Exercise any other remedies available under Georgia law.

19. Earnest Money Disposition on Dispute

If a dispute arises over Earnest Money, the Escrow Holder may interplead the funds into court or follow the procedures in the escrow agreement or Georgia law. Neither party may make a claim against the Escrow Holder for good-faith actions.

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ARTICLE VI - ADDITIONAL PROVISIONS

20. Representations and Warranties

Seller represents that to Seller's actual knowledge: (a) there are no pending or threatened condemnation, zoning, or code enforcement actions; (b) Seller has not received notice of any special assessments except as disclosed; (c) the Property is not in a flood zone requiring flood insurance unless disclosed; and (d) all known material defects have been disclosed in the Property Disclosure Statement.

21. Risk of Loss

Risk of loss remains with Seller until closing. If the Property is materially damaged by fire, casualty, or condemnation before closing, Buyer may terminate and receive Earnest Money return, or proceed with closing and receive an assignment of insurance proceeds or a price reduction.

22. Assignment

Buyer may not assign this Agreement without Seller's prior written consent, except to an entity controlled by Buyer or a qualified intermediary for a 1031 exchange on notice.

23. Notices

All notices under this Agreement shall be in writing and delivered by hand, overnight courier, certified mail, or electronic transmission (email with read receipt or confirmed delivery) to the addresses set forth above or such other addresses as the parties designate in writing.

24. Entire Agreement; Amendments

This Agreement, including all exhibits and addenda, constitutes the entire agreement between the parties and supersedes all prior negotiations, representations, and agreements. It may be amended only by a written instrument signed by both parties.

25. Governing Law and Venue

This Agreement shall be governed by the laws of the State of Georgia. Any legal action shall be brought in the Superior Court or State Court of the county where the Property is located, or in the federal district court with jurisdiction.

26. Severability; Waiver

If any provision is held invalid or unenforceable, the remaining provisions shall continue in full force. No waiver of any breach shall constitute a waiver of any other breach.

27. Time of Essence; Computation of Time

Time is of the essence. Deadlines expressed in "business days" exclude Saturdays, Sundays, and Georgia legal holidays. Deadlines expressed in calendar days include all days. If a deadline falls on a weekend or holiday, it is extended to the next business day unless otherwise stated.

28. Attorney Fees and Costs

In any action or proceeding to enforce rights under this Agreement, the prevailing party shall be entitled to recover reasonable attorney fees and costs as permitted by Georgia law.

29. Servicemembers Civil Relief Act and Other Protections

Buyer or Seller who is a qualifying service member may have rights to terminate or delay under the Servicemembers Civil Relief Act (50 U.S.C. §3955 et seq.). The affected party shall provide timely written notice and a copy of qualifying orders.

30. Exhibits and Addenda

The following are attached and incorporated by reference:

• Exhibit A: Legal Description (if not in body)
• Exhibit B: Seller's Property Disclosure Statement
• Exhibit C: Lead-Based Paint Disclosure and Pamphlet (pre-1978)
• Exhibit D: HOA/Condo Documents and Estoppel (if applicable)
• Exhibit E: Other Addenda: [[List - e.g., Financing Addendum, Inspection Repair Amendment, 1031 Exchange Addendum]]

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31. Signatures

SELLER

Seller Signature: _______________________________ Date: [[Date]]

Printed Name: [[Seller Full Legal Name]]

Seller Signature: _______________________________ Date: [[Date]]

Printed Name: [[Seller 2 Full Legal Name]]

BUYER

Buyer Signature: _______________________________ Date: [[Date]]

Printed Name: [[Buyer Full Legal Name]]

Buyer Signature: _______________________________ Date: [[Date]]

Printed Name: [[Buyer 2 Full Legal Name]]

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