Purchase And Sale Agreement Georgia Form 2024

Purchase And Sale Agreement Georgia 2024 Form: What You Should Know

V. EXCHANGE OF EQUITY. The Agreement of sale: If, at or after the closing date, the property is not sold to the Buyer, the Seller may exchange the property for cash or property of equivalent value at the then-current Buyer's offer. If the Property is not sold within 6 months, the Agreement of sale shall terminate as of the latter of:(1) 6 months after the date on which the Contract of sale becomes effective; (2) the close of business of the last business day preceding the date the Property is sold; (3) the date on which the Buyer transfers the property to another Person; or (4) 10 days after the date the Buyer receives written notice from Seller: Provided, That upon such condition, the parties shall negotiate in good faith and on reasonable notice by certified or registered mail of a proposed time for closing of the transactions, such time to be no later than two (2) weeks after receiving such notice. If there is a dispute as to the Seller and Buyer having acquired the title to the same property and a written offer is made to the Seller to accept such offer, the Buyer may not accept the offer within 3 months of the date the written offer is made: Provided, That if the Buyer accepts (but the value of the Property at the time of the acceptance is less than the amount to which the Buyer would have been entitled, on the basis of fair market value of the property at the date of the offer), the Buyer shall be responsible for paying the difference between the then total of the then-unpaid claims of Seller and Buyer if any, and any amounts paid by the Buyer which, together with the amounts paid by the Seller to the Buyer, are more than the amount to which the Buyer would have been entitled at the date of the written offer, plus any unpaid amounts due the Buyer under the terms and conditions of the Agreement of sale. V. PAYMENT The sale of the Property will be on a cash basis, subject to the applicable cash commission rates of Georgia, including in excess of the Georgia commission set forth in Section D below. The purchase price does not include the cost of taxes, title, and registration fees. It may include a nonrefundable administration fee, which fee may not exceed 0.25% of the Property's purchase price.

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