Contracts
An addendum to a GAR Purchase and Sale Agreement must be:
AA. Filed with the county courthouse to be valid
BB. Signed or initialed by all parties to be incorporated into the contract✓ Correct
CC. Prepared by a licensed attorney only
DD. Submitted to GREC for approval
Explanation
For an addendum to become part of a contract, it must be signed or initialed by all parties, demonstrating their agreement to the modified or additional terms. Unsigned addenda are not incorporated into the contract.
People Also Study
Related Georgia Questions
- Under Georgia law, if a buyer defaults on a Purchase and Sale Agreement, the seller's typical remedy (as stated in the GAR contract) is:Contracts
- The Georgia Association of REALTORS (GAR) Purchase and Sale Agreement is an example of a:Contracts
- The GAR (Georgia Association of REALTORS) Purchase and Sale Agreement is best described as:Contracts
- A Georgia real estate contract has a Due Diligence Period. During this period, the buyer may:Contracts
- Under the GAR Purchase and Sale Agreement, if the seller does not respond to an offer within the stated deadline, the offer:Contracts
- In Georgia, a buyer who wants to make their purchase contingent on selling their existing home would use which addendum?Contracts
- Under Georgia law, if both parties breach a real estate contract, the most likely outcome is:Contracts
- A listing agreement in Georgia is a contract between:Contracts
Key Terms to Know
Purchase Agreement
A legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
State-Specific Concepts
GREC Regulation
Study This Topic
Practice More Georgia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Georgia Quiz →