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A Bill of Sale is an agreement between a seller and a buyer. It allows the seller to accurately detail the items they have purchased, and it allows buyers to review and discuss the contract details. A bill of sale example Georgia is prepared by a Certified Public Accountant and offers a concise yet complete approach to the sale of real estate.
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Each purchase agreement may include clauses that vary from state to state, so it is essential to understand the important sections included in the Georgia law before a contract is signed. A “Bill of Sale” example Georgia will help clarify the clauses that are specific to Georgia law, as well as providing a brief overview of the various types of contracts involved.
First, a Bill of Sale is an agreement that outlines the particulars of the sale of real estate. The seller lists the items and any damages the seller has incurred in connection with the property, and the buyer agrees to pay the seller the amount due. The buyer and seller sign the bill of sale with the seller’s signature below the date on which the bill of sale was executed.
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A bill of sale can include different types of provisions. It may include a clause that authorizes the buyer to take possession of the property immediately following the agreement or a clause that provides that the buyer retains possession of the property until the seller is paid in full. A bill of sale example Georgia will explain the most common provisions found in this type of contract.
Some contracts allow the buyer to take possession of the property after a certain amount of time. These types of contracts often have some amount of flexibility concerning time frames, but they are not typically very forgiving. A bill of sale example Georgia will illustrate the timing provisions.
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A buyer may also be allowed to take possession immediately after the closing date. These types of contracts typically provide that the buyer does not need to wait for the statutory waiting period to expire. A bill of sale example Georgia will discuss these types of contracts as well.
A buyer may also be able to use the specified waiting period provided by the seller, as long as the buyer complies with Georgia law. This is referred to as a “waiting period.” A bill of sale example Georgia will discuss the waiting period provision of the contract as well.
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These are only two of the most basic contract examples available. Because Georgia law is continually changing, new legislation is being drafted, and laws and case law are constantly evolving. A skilled lawyer in the real estate field can assist buyers in creating a good bill of sale.