QUESTION
Seller's breach of contract: California Real Estate
Asked on Mar 18th, 2014 on Breach of Contract - California
More details to this question:
I have a residential lease agreement, option to purchase and purchase agreement (within an addendum). I have paid all deposits and rent and am now exercising the option to purchase with an additional down payment. The seller, which owns the property free and clear and will privately finance it, has now decided NOT to sell it to me. They want more money from a new buyer. Regardless, I entered escrow today, but I feel the seller will not execute the sale. I am willing to walk away, if she pays me back my deposit; $10K and a portion of my investment and equity loss. The seller bought this house almost two years ago for $300K and put $100K into it. She agreed to sell it to me for $455K. However, houses on my street are now going for $555K to $600K and more. I adhered to all the terms and conditions performing as expected. I have offered to pay ALL costs associated with escrow including the sellers costs. There are NO contingencies. I would appreciate any advice. Thank you.
1 ANSWER
Civil Litigation Attorney serving Arcadia, CA
Partner at
Law Office of Sina Mohajer
If your ex-wife has quit claimed the property to you, she no longer has any interest. Thus is unable to receive a favorable outcome in court. Also, since the ownership of the property was resolved during your divorce, that should also help you in defending against these false accusations.
I strongly encourage you to consult an attorney as to defending yourself in a civil lawsuit. There are a number of tools we can use to make the lawsuit end quickly, or even possibly to have some award be rule din your favor.
I hope I have answered your question. If you would like to discuss your case in more detail, feel free to contact me at your earliest convenience.
Answered on Mar 19th, 2014 at 2:49 PM