QUESTION

Question on sale of lot.

Asked on Apr 04th, 2017 on Real Estate - California
More details to this question:
We had a lot for sale here in California. Had a guy who wanted to buy it. Turned out he had to sell his house first. Never gave us a deposit and there was never a signed a contract. We finally sold the lot to someone else. Now he says he wants the lot. Should we tell him it sold? No longer available? Should we say anything to him? Can he make trouble for us?
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1 ANSWER

Real Estate Attorney serving Oakland, CA at Sack Rosendin LLP
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Yes, you should tell him the lot has been sold. You are under no legal obligation to do so, but there is no reason not to, and not telling him may prolong the issue.  Can he make trouble for you? Probably not, but even if he can, there probably is nothing you can do now to protect against that. You've already sold the lot.  Anyone can sue anyone for anything, The real question is how long they can prolong such a lawsuit. Contracts involving the sale of real property are required to be in writing. There are exceptions. The exceptions require reasonable reliance on some statement or action by you. The most common one is accepting a cash deposit, which you did not do. If you were involved in the sale of his house, that might be a weak spot, but still, is it reasonable for him to rely on such involvement in the absence of a signed agreement or at least something in writing?  To answer your question, a lawyer would need to review all your correspondence and emails with the other guy, and interview you about all your conversations with him, and the same for any real estate agents or brokers who were involved. If you appreciate this free advice, please remember to refer me to any friends or acquaintances who need a lawyer. Referrals are still our best source of new business. Do you have a revocable living trust to protect your heirs against probate? Probate takes forever, is expensive, and is annoying. Do your family a favor. Set up a trust, and put all your property, especially any real property, into the trust. Since it is revocable, you can change it, add to it, take property out of it, or even cancel it completely, at any time. We set up such trusts, provide a pour-over will as a back-up for any property that does not make it into the trust, provide you with blank durable powers of attorney for health care and financial decisions, in case you become incapable of making such decisions while still alive, and convey one piece of real property to the trust, usually the family home, for $1500.00. If you would like to hire me to do this, let me know, and I'll send you a list of the information I need.   Dana Sack
Answered on Apr 05th, 2017 at 10:14 AM

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