Legal Question in Real Estate Law in Georgia
Does GA law require that earnest money be refunded if buyer backs out of contrac
Recently a potential buyer of our home backed out of his contract with us. He kept our property tied up and off the market for 2 months. Now our real estate agent is telling us that we will have to give the deposit back to him. Is this true?
1 Answer from Attorneys
Re: Does GA law require that earnest money be refunded if buyer backs out of con
That is a contract and fact specific question. Based on what you wrote, no lawyer, not even Merlin, could answer your question. If you wish to hire us, give us ALL THE FACTS and your CONTRACT (PSA), we can give you an opinion concerning whether you have to refund the money in Georgia. We have both Georgia law and real estate lic. However, our rate is $200 per hour. HCW
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