In real estate, the written contract has the final say in the matter.
One of the hardest things about being a Realtor is having to tell a Seller that the buyer is not moving forward with the contract.
So much of our job is education. If you educate your buyers about the contract, they will understand what needs to happen before the contract is 'safe.' That won't make it easier if the buyer backs out, but it might help as you explain why the specific contract is not going to go to closing.
I have had to deliver some devastating news to some clients this week. It’s never pleasant when a transaction that has been going along smoothly abruptly ends.
And it’s not always just about money. Human emotions play a big role in how we react to bad news. Nobody likes to lose. The natural tendency is to lash out.
But at the end of the day, the written contract has the final say. A party is either within its rights or is in breach. It’s either one or the other.
And even if a breach has occurred, idle threats have no value. The only remedies that are available to the party that has been harmed are those that have been contractually negotiated or prescribed by law.
It’s a harsh reality, but it is what it is.
Are there options?
Sometimes there are, other times there are not. The advice of a good real estate attorney is essential in determining if a legal response is warranted.
Either way, a calm head and a professional demeanor goes a long way towards a possible resolution.
And if there is none, it’s time to start all over again.
All content, including text, original art, photographs and images, is the exclusive property of Coweta Fayette Real Estate, Inc., and may not be used without the expressed written permission of Coweta Fayette Real Estate Better Homes and Gardens Metro Brokers, Newnan Georgia. All information is believed to be accurate but is not warranted, Copyright 2003-2009. Richard Weisser REOS, E-Pro. licensed Auctioneer. 770-827-6225.
Learn more about Coweta County and Fayette County Georgia Real Estate, and to search the entire Georgia MLS for free with no registration required. Visit CowetaFayetteRealEstate.com! Photos of the Great Smoky Mountains National Park. North Georgia Photos.
Comments(1)