PATH & POSt Real Estate
BROCHURES
& DISCLOSURES
These Consumer Brochures & Disclosures are produced by the Georgia Association of REALTORS® and will help you stay informed and aware of the complexities involved in a real estate transaction.
Important Information
Path & Post encourages all consumers to read, research, and ask questions. Most importantly, we encourage you to work with a professional you trust to guide you through a challenging and intricate process.
Disclaimer Regarding the Purchase of Certain Property
Buyer acknowledges that the Official Code of Georgia section 2-1-7 prohibits certain nonresident aliens, foreign persons, foreign companies and U.S. companies owned by any of the above from buying or possessing certain land within a 10-mile radius of any military base, military installation, or military airport. Buyer agrees to carefully read the entirety of the above referenced Code section before contracting to buy such land. Buyer should consult with legal counsel to fully understand the law. If Buyer has not submitted written questions to Broker regarding the law to Broker prior to contracting to buying prohibited property, Buyer acknowledges that Buyer fully understands the limitations and requirements of the law and Broker shall have no responsibility for further doing the same. In such event, Buyer shall indemnify and hold Broker harmless from any and all claims, causes of action, suits and damages arising out of or relating to Buyer’s failure to comply with the law. Violating the law can subject Buyer to civil and criminal penalties. The law also requires certain sellers and others to divest themselves of such property within certain time periods if they are now no longer legally able to purchase such property.
Industry Rule Changes
In response to the NAR policy changes, sellers may decide not to offer unilateral compensation to the buyer’s broker. Path & Post welcomes buyers to request a concession from seller to reduce costs to close, including but not limited to buyer’s broker fees, closing costs, and other fees. All concessions are negotiable.
FIRPTA Affidavit
Unless Seller is a “foreign person”, as that term is defined in Section 1445(f)(3) of the Internal Revenue Code, Seller shall deliver to the closing attorney at closing a FIRPTA (Foreign Investment in Real Property Tax Act) Affidavit indicating that Seller is not a “foreign person”. If Seller is a “foreign person”, additional taxes may need to be withheld at closing.