Legal Question in Real Estate Law in Georgia
Real Estate Contracts
Is there a law similar to the FTC Cooling-Off law for real estate purchases? Do I have a set ammount of time to back out of a real estate contract without incurring the contractual penalties?
Asked on 5/16/03, 8:15 am
2 Answers from Attorneys
Charles W. Field
Charles W. Field, Attorney at Law
Re: Real Estate Contracts
Unless the contract provides you with an "out", you are bound, as a rule. However, there may some other factors surrounding the signing of the contract or even whether the contract is binding (i.e., whether all the T's are crossed and the I's dotted.) You should have a local attorney review the contract and the surrounding circumstances.
Answered on 5/17/03, 10:39 am
Lynwood Jordan
Lynwwod Jordan, Attorney at Law
Re: Real Estate Contracts
Whether your real estate contract is valid cannot be known without reading the contract. If you have a valid Georgia contract, you are bound.
Answered on 5/16/03, 8:38 am
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