What happens when a buyer or seller defaults on a real estate contract? Well in Georgia as of 8/1/2018, the earnest money (good faith money, deposit...) will be of great interest as the ability for the parties to sue is limited. Our friends at Campbell and Brannon, Attorneys at Law provide this concise overview.

When a Buyer Defaults on a Real Estate Contract

real estate lawyer atlantaIn the event this Agreement fails to close due to the default of Buyer, Seller’s sole remedy shall be to retain the earnest money as full liquidated damages. Seller expressly waives any right to assert a claim for specific performance. The parties expressly agree that the earnest money is a reasonable pre-estimate of Seller’s actual damages, which damages the parties agree are difficult to…

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Should you buy a stucco home in Atlanta? A better question might be should you buy a home clad with synthetic stucco or EIFS (Exterior Insulated Finish System)?  This cladding was very popular around Atlanta during the 80’s to early 00’s because of the ease and low cost to install. The foam board installed behind the stucco provides synthetic stuccoadded insulation and the product is very easy for architects to use in design.  Synthetic stucco was meant to be a barrier system that kept water out, but poor installation (mainly flashing issues) can allow water to penetrate and remain unable to escape. Over time, the trapped moisture will eventually eat away sheathing, structural framing, and even interior finishes. Mold, fungal growth and rot are common. Termites are a…

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