Contracts
A Georgia seller accepts an offer on their home. Before closing, the roof sustains significant storm damage. The risk of loss provision in the contract most likely:
AAlways makes the buyer responsible for damage after contract acceptance
BMakes the seller responsible for maintaining and delivering the property in substantially the same condition as when the contract was signed✓ Correct
CAutomatically cancels the contract due to the damage
DRequires the buyer to pay for all repairs before closing
Explanation
Most Georgia real estate contracts include a risk of loss provision requiring the seller to maintain the property and deliver it in substantially the same condition as at contract signing. The seller is generally responsible for repairing significant damage that occurs before closing.
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