Contracts
A Georgia real estate contract has a Due Diligence Period. During this period, the buyer may:
AOnly conduct property inspections
BTerminate the contract for any reason and receive earnest money back✓ Correct
CNegotiate a lower price but not terminate
DOnly review HOA documents
Explanation
The GAR Due Diligence Period gives the buyer the unilateral right to terminate the contract for ANY reason and receive their earnest money back, providing a broad investigation and exit opportunity.
Related Georgia Contracts Questions
- The Georgia Association of REALTORS (GAR) Purchase and Sale Agreement is an example of a:
- A buyer in Georgia signs a contract and the seller signs it three days later. The effective date of the contract is:
- Consideration in a real estate contract does NOT have to be:
- A counteroffer in Georgia real estate constitutes:
- An 'escalation clause' in a purchase offer allows the buyer to:
- A Georgia listing agreement is what type of contract between the seller and broker?
- A 'time is of the essence' provision in a Georgia real estate contract primarily affects:
- Under the GAR contract, the 'time is of the essence' provision means:
Practice More Georgia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Georgia Quiz →