What must be disclosed to a buyer before entering a binding agreement?

Disclosure of material defects in a property is a crucial aspect of real estate transactions. It ensures that buyers are fully informed about any issues that may affect their decision to purchase or the value of the property. Material defects can include significant problems such as structural issues, plumbing leaks, electrical faults, or environmental hazards. It's the responsibility of the seller to disclose these defects to potential buyers in order to maintain transparency and protect the buyer from unforeseen expenses and liabilities after the closing of the sale.

Real estate laws in Georgia, as in many states, require sellers to provide a disclosure statement that outlines known material defects. This helps to promote fair dealing and reduces the potential for legal disputes post-transaction. Buyers have a right to know about these issues to make informed decisions and potential negotiations regarding repairs or price adjustments can arise based on disclosed material defects.

While information such as the location of comparable properties or the seller's financial history may be useful for buyers, they do not carry the same legal weight as disclosing material defects. Agent's personal reviews are subjective opinions and would not fall under the mandatory disclosure requirements as established by real estate law.