Legal Question in Real Estate Law in Georgia
Buyer breaks contract and is no where to be found.
I recently had my home for sell and were excited that we received an offer. Both parties agreed to the terms and signed the contract. We moved out of the house since the closing was in 3 weeks. The Buyer asked for extensions to the contract due to the fact he was traveling on business. We agreed to the extensions. When the final extension ended we could't locate the Buyer. The Buyer's real estate agent did not know her clients address and the Buyer would not return calls. It's been several months and we still can not locate this individual. We've had to pay two mortgage payments since August and we have yet to collect the earnest money. The Buyer's Real Estate Agency has told us that they will only release the earnest money when the Buyer signs the release. Help!
We would like to find this ''Buyer'' who broke the contact to sue for damages and obtain the earnest money. Problem is that we can't find this person to sue him and the Agency will not release the earnest money. Help!
1 Answer from Attorneys
Re: Buyer breaks contract and is no where to be found.
It sounds like you need a good deal of help. First, the earnest money should be release in accordance with the terms of the contract, and obviously, I don't know the language of the contract. Second, if you decide you want to file suit, you (or your attorney) would need to do some research on this guy's whereabouts and possibly hire a private investigator.
If you would like to discuss any issues further, please feel free to contact my office. My contact information is below. Thank you.
The foregoing is general information only, not specific legal advice. No attorney/client relation has been created or should be implied.
Glenn M. Lyon, Esq
MacGregor Lyon, LLC
Promenade II
1230 Peachtree Street NE
Suite 1900
Atlanta Georgia 30309
Phone 404.942.3545
Fax 404.795.0993
www.macgregorlyon.com
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