Legal Question in Real Estate Law in Georgia
For sale by owner
What are the legal rights of the seller on a for sale by owner of land? I had land for sale and a couple decided to buy it. A price was decided on. They said they wanted to check some things out. They checked to make sure the taxes were paid. They paid an attorney $300 for a title search. Water quality test. We rec'd a contract in the mail stating they wanted to buy the land.We did not sign this contract because it want have tied up the land for 4-5mos and we had only 2wks to remove a building after closing. This would have kept us from selling the land to other interested buyers. No earnest money was paid or contract signed. We held the land for 2 mos. waiting for them to do everything they wanted to do. The hold up was for the survey which they insisted be done before purchase. This was to be a cash transaction and none of these things were necessary forpurchase. They were only done for the protection of the buyer. In the meantime a potential
buyer contacted me wanting to buy the land.They wanted to check out things at the courthouse and buy the land within 2 days. The previous couple were notified and told about this and become very upset & said to forget the deal.Did I do anything legally wrong in selling the land to them
2 Answers from Attorneys
Re: For sale by owner
I would hesitate to give you a definite answer because it sounds like a fairly complex case, but if you did not sign anything, you should be obligated by anything. No oral agreements are enforceable when they deal with real estate.
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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Re: For sale by owner
You did nothing improper. In order to be enforceable, contracts for real estate must be in writing. Since you signed nothing with the first potential buyers, you owe them nothing.
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