Legal Question in Real Estate Law in Georgia

real estate fraud

We offered to purchase a foreclosure house which was listed on MLS listing in May. The listing price was $94,500. We sent an offer of $104,000 first time. The sell agent told us there was another offer and if we could update our offer. So we sent second offer which was $120,000. but still got rejected. Recently, we found that the house actually was closed at $95,500 a month later when the offer was sent by us. The buyer is an real estate agent too.

I wonder if it's right for seller that could take so much lower offer without any reasons or if there is something wrong there. If it's not right, what kind of further action we can take.

Please advise. Thank you very much.


Asked on 12/05/06, 3:13 pm

2 Answers from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: real estate fraud

Not sure where the "fraud" is. The seller can sell to anyone they choose.

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Answered on 12/05/06, 3:18 pm
Ms. Tran Lankford Tran Lankford, Attorney at Law

Re: real estate fraud

I do agree with Mr. Scott Riddle that if there is any potential fraudulent action, it is definitely not against you; however, it could have been possible that the seller was unaware of your offers because the seller real estate agent did not advised the seller of your offers in order to sell to the buyer-agent at a lower price. In that case, it would be the seller who might have a cause of action against the seller's real estate agent. All of this contingent on the seller being able to prove this allegation; if so, you may be a witness in such litigation. This response is solely based on the limited information you have given; the circumstances may change if there are additional facts.

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Answered on 12/05/06, 5:34 pm


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