We just signed a real estate contract in Georgia and the seller agreed to the terms, etc. and also signed. We did this 5 days ago -- suddenly, the seller is realizing that he is losing on the deal and wants to cancel the contract. Can he do so? We both have licensed Georgia real estate agents working for us and we have already paid application fees, appraisal fee, inspection fee, etc. Thanks!

Hello r:

Both agents work for the seller, not you, so I wouldn't count on them too much. What he CAN and CAN'T do, and what you CAN and CAN'T do is in the written contract you signed.

If it doesn't address it, you may need an attorney.

Did you pay an earnest money deposit? Where is that?

excon

Quote:

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Originally Posted by excon

Hello r:

Both agents work for the seller, not you, so I wouldn't count on them too much. What he CAN and CAN'T do, and what you CAN and CAN'T do is in the written contract you signed.

If it doesn't address it, you may need an attorney.

Did you pay an earnest money deposit? Where is that?

excon

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I have a 'Buyers' agent who has been showing us homes and he has a sellers agent -- why would you say they are both working for the seller? Also, my agent's company has the Earnest Money check --

Ok, your "buyers agent" did you pay them a set fee to find you a home, if they are actually getting part of the commission, they are ot truly buyers agents in Georgia.

A buyers agent would be non commissioned, working for a set fee if you find or do not find a home.

He can only back out if there is a reason in the contract that allows him to.