Legal Question in Real Estate Law in Georgia

Broken Real Estate Contract
I have sold my home 'By Owner' and signed a purchase agreement with the buyer. She gave me a check from her grandmother for the earnest money however the grandmother stopped payment on the check. The woman is now breaking her purchase agreement on the terms that she doesn't think that she can get financing. The sales contract gave her 14 days to cancel the contract if she had a letter from a lender declining financing and we are now well beyond that period. Do I have any legal recourse to obtain the earnest money that there was a stop payment on and if so, is my action against the signing party or the party that wrote the check?

Asked on 3/13/07, 4:01 pm

Charles W. Field Charles W. Field, Attorney at Law

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Re: Broken Real Estate Contract

Real estate contracts are treated special under the law. All the documents need to be reviewed. Consult with a local attorney.

Answered on 3/16/07, 5:42 pm

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