Real Estate

2 years ago, my wife and I put a contract down for a condo in Atlanta (downtown) for 4000. The idea is to purchase this condo and rent it out. At the time we did not anticipate the economic challenge (hence could be difficult to find tenants easily).

Can some please advice how we can get out of this contract and still collect the deposit we made 2 years ago?

Thanks

The very best advice is to go see a lawyer.

You may have much larger penalties than the deposit. A lawyer would be of great help.

3 Responses

1. roadhunter Says:
   November 10th, 2009 at 2:53 pm

   If you just made a bad decision and no longer think the property is a good buy, that’s really dishonest.
   References :

2. glenn Says:
   November 10th, 2009 at 3:26 pm

   The very best advice is to go see a lawyer.

   You may have much larger penalties than the deposit. A lawyer would be of great help.
   References :

3. boilerette72 Says:
   November 10th, 2009 at 3:47 pm

   have you received and accepted the Condo Association documents yet? In some states you have a few days to review them then you can get out of the contract if you dont like what’s in them, or use them as an excuse to get out of the contract.
   References :

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