Legal Question in Real Estate Law in Georgia

Home Purchase

I have submitted a verbal offer on a home which already has a contract. The prospective buyers have the contingency in their contract that their home sells first. The seller has accepted my offer, and as a result, the agent stated that she had to notify the other buyer of the offer I had put in and the seller accepted. She stated that the other buyer had a 72-hour period to make a decision. I have been told by others that if the first buyer decides to keep their contract in force, they have to come up with a closing date. Is that true? The agent said if the other buyer didn't want to back out, I could always do a contingent contract in case their deal falls through. What is the proper way to proceed?


Asked on 1/08/08, 11:06 am

1 Answer from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: Home Purchase

Guiding you the process based on a few vague sentences, contracts we do not have, or "what you have been told," is beyond the scope and purpose of this general forum. Retain a qualified agent to represent you, as that person can actually read he documents you reference and act accordingly. They will also discuss why verbal offers, acceptances and purported contracts have virtually no validity whatsoever.

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Answered on 1/08/08, 11:36 am


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