Legal Question in Consumer Law in Georgia

Legal Contract

I signed a contract about a week ago to purchase a home but I havent yet completed the closing process, and since then I have changed my mind. How do I get out of this contract? I also signed a truth and lending statement and a good faith estimate.


Asked on 3/20/07, 6:22 pm

2 Answers from Attorneys
Paula McGill Attorney at Law

Re: Legal Contract

You should read the contract carefully. If it is a simple residential real estate contract, it MAY have language in the document where you forfeit your earnest money if you decide not to buy the property. However, every contract is different and you have to read the contract. If it is that important to you, you should let a lawyer review it. A few hundreds dollars spent on a lawyer's advice may save you thousands, if not tens of thousands, in the long run.

(Also licensed in Georgia)

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Answered on 3/27/07, 10:56 am
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: Legal Contract

We don't have the paperwork. What does it say about cancelling? Rarely will one include a provision for changing your mind. Most contracts are binding the minute they are signed.

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Answered on 3/26/07, 9:35 pm


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