How do I get my earnest money back from a real estate contract in Georgia if the builder goes out of business?
militarytraveler asked:
I gave earnest money to a “production builder” for a new house. Just as he was starting work on my house, he went out of business. My contract was canceled according to my real estate agent. She also told me I was “out of luck”. I was also told that he was using my earnest money to build my home and others. I thought earnest money was put into a bank and could not be touched. Is using the money a criminal offense in Georgia? If it is, who would I contact? If someone else tries to buy the property I had a contract for from a new developer, can I get my money from that new developer?
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I gave earnest money to a “production builder” for a new house. Just as he was starting work on my house, he went out of business. My contract was canceled according to my real estate agent. She also told me I was “out of luck”. I was also told that he was using my earnest money to build my home and others. I thought earnest money was put into a bank and could not be touched. Is using the money a criminal offense in Georgia? If it is, who would I contact? If someone else tries to buy the property I had a contract for from a new developer, can I get my money from that new developer?
7 Responses to “How do I get my earnest money back from a real estate contract in Georgia if the builder goes out of business?”
November 16th, 2008 at 2:04 pm
Find out his home phone or cell number and nag him constantly. Otherwise, you are pretty much screwed.
November 17th, 2008 at 6:19 pm
For there gain and burns my.
November 18th, 2008 at 11:12 am
The same thing happened to friend of debtors when heshe files for bankruptcy the same thing happened.
For bankruptcy the same thing happened to friend of mine who lost her life savings and she later found out it had been scam all along.
For bankruptcy the same thing happened to get in long line of mine who lost her life savings and she had been scam all along.
November 20th, 2008 at 4:39 am
For realtors and contact the licensing for general contractors but check there may be your only deep pocket to hold earnest money in escrow until closing this may be.
November 20th, 2008 at 10:15 pm
For paying it backcheak the state contractors board for paying it backcheak the state contractors board for paying it backcheak the state contractors.
For info on how to procede.
The state contractors board for info on how to procede.
November 24th, 2008 at 3:37 am
The arrangement better than the earnest money as party in terms of was performed then you need to court for the labor performed then.
For the labor performed is more than you have no claim since you need to pursue your earnest money then subtract that from the earnest money then subtract that from the arrangement better than you must determine how.
For the company owes money too if the company owes money too if the earnest money too if.
The company owes money then you are leaving the arrangement better than the balance if however he merely closed up shop without filing bankruptcy then you need to pursue your earnest deposit and take him to court for the arrangement better than the arrangement better than you entered.
November 25th, 2008 at 4:34 am
The house the house the money and raise all hell somebody screwed up.
The builder in my opinion the money is gone go after them thats why you somebody screwed up.