Bremen, GA Real Estate and Foreclosure Expert

Bremen, Georgia

Ann's musings about buying and selling real estate in the west Georgia counties of Haralson and Carroll, expert advice on foreclosures and their availability.

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New Georgia Purchase and Sale Agreement

Posted at Bremen, GA Real Estate and Foreclosure Expert by Ann Hobbs

Jan. 11, 2008

Tagged with: amendments, contingencies, contracts, georgia, purchase and sale

Having just returned from a good class explaining the changes in the 2008 GA Purchase and Sale Agreement, I have to say, “The more things change, the more they stay the same.” It’s almost funny to me that from 1988 until now (my stint in this business) most questionable parts of the contracts have evolved into pretty much what we had before we started updating them. What we don’t say in the “body” of the basic 7 page contract, we make up for in amendments, addenda, contingencies and exhibits. There are so many forms that the basic 7 pages will probably become the basic minimum 12 pages.

Somewhere around 1996 I went to the annual state gathering where things concerning contracts were hot on the agenda. At that time, reducing the length of the contract was really important. By doing that, we must have omitted too much of the stuff we found superfluous, because it’s baaaaccccckkk. . . . just in the form of all those extra pages mentioned above.

I’m sure shifting liability has a great deal to do with how these things are decided: what goes in, what’s taken out. It’s terrible to realize what a litigious society we’ve become and I sure want to avoid anything having to do with the words real estate and court uttered in the same sentence. We stop short of sacrificing ourselves on the altar of agency (thank goodness). As much as we feel compelled to represent our buyer or seller clients to the nth degree all these forms and tedious amendments do keep us seated in the realm of the reality that everything we do must be done well and completely. We have the ability to save ourselves and our clients some scary lawsuits just by doing our jobs knowledgably and professionally.

So, I went to the good class explaining the 2008 GA Purchase and Sale Agreement and it was a good thing. I’ve been reminded of all those things we still need to do and have to do in spite of our efforts to simplify. If you are an experienced agent you know there are no short cuts. By getting updated on contracts I know that I know everything that you know! 2008 is already great!

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