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Signing the contract for your new home soon? Make sure you understand the terms and terminology used to ensure you are signing the correct agreement. Here are a few of the ones most commonly used:

PURCHASE AND SALE AGREEMENT: The document that creates a valid enforceable contract between a buyer and seller in Georgia is called a Purchase and Sale Agreement. This contract has been created and pre-approved by attorneys and the Georgia Association of Realtors (GAR) and includes but is not limited to terms related to the legal description of the property, purchase price, buyer’s intended loan terms, buyer’s earnest money, closing date and possession, inspection, and agency.

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