Real estate disputes lead to lawsuit seeking millions in damages
A project developer in another state has filed a lawsuit against a homeowner who he says has breached a contract they both signed. Litigation was fueled by real estate disputes that erupted when the homeowner decided not to sell his house to the builder, which, he claims, he had the right to do. California builders or property owners currently facing contract problems may want to review this case.
The builder had plans to buy a house that is situated in a location near three other properties he already owns. The homeowner reportedly agreed (in writing) to sell the triple story house for $700,000. At some point, the owner of the house decided it was worth far more than that; in fact, he later said he believes he could get more than $2 million for the house, which led to him retracting his offer to sell to the developer.
The legal claim filed against the homeowner seeks $4 million in damages, as the builder says the contract problems have stalled his business plans, which require all four properties to fulfill. To make matters worse, the homeowner has accused the project developer of harassment and intimidation, saying he only agreed to sell him the house for an unconscionable sum to stop the bullying he'd endured for 30 years. The home is in a prime location that coincides with popular, modern building trends.
Real estate disputes often arise when one or more parties fail to adhere to terms of a signed contract. In this situation, clarification of the terms will be needed since one party claims he had the right to withdrawal his offer to sell and the other party claims the withdrawal breaches an agreement. California property sellers or buyers who need the court's intervention to resolve similar disputes may wish to act alongside experienced legal representation in court.