Do I need an attorney? The closing costs are killing me enough as it is.
I read through the law suit, basically, the plaintiff claims that her former real estate agent (the current seller of the condo I'm trying to buy) lied to her about getting loans, in order to buy the condo for himself (which he did.). So she is suing for potential lost income, interest, emotional distress, etc. It does not list possession of the property anywhere in the suit.
The plaintiff's story is that the defendant conspired to deceive the plaintiff into thinking she could not get a loan at a favorable rate, in order to buy the property for himself.
The defendant's story is that the plaintiff could not qualify for a favorable rate, kept trying to get better rates, until it was too late (past closing period). The seller of the property was not happy and threatened to keep the deposit and downpayment (the plaintiff neglected to opt for a loan contingency in the purchase contract, so although she claimed that the defendant, the then real estate agent, neglected to check off that option, she signed off on it anyways, so it's her fault.). So in order for her to get her money back, the defendant "graciously" offered to buy the property.
Since the lawsuit is listed at July 12, 2004, our offer for the property was July 28, 2004, the current seller (the defendant) had prior knowledge of this lawsuit, and withheld this information from us until two days ago.
That makes me believe the plaintiff.
Either way, I want no part in this lawsuit. I'll have to call the Escrow officer and find out if the title is in the clear, and not part of this lawsuit.
Anything else I need to worry about? (As if I needed more) I really annot have more bad luck at this point.
-Ed
I read through the law suit, basically, the plaintiff claims that her former real estate agent (the current seller of the condo I'm trying to buy) lied to her about getting loans, in order to buy the condo for himself (which he did.). So she is suing for potential lost income, interest, emotional distress, etc. It does not list possession of the property anywhere in the suit.
The plaintiff's story is that the defendant conspired to deceive the plaintiff into thinking she could not get a loan at a favorable rate, in order to buy the property for himself.
The defendant's story is that the plaintiff could not qualify for a favorable rate, kept trying to get better rates, until it was too late (past closing period). The seller of the property was not happy and threatened to keep the deposit and downpayment (the plaintiff neglected to opt for a loan contingency in the purchase contract, so although she claimed that the defendant, the then real estate agent, neglected to check off that option, she signed off on it anyways, so it's her fault.). So in order for her to get her money back, the defendant "graciously" offered to buy the property.
Since the lawsuit is listed at July 12, 2004, our offer for the property was July 28, 2004, the current seller (the defendant) had prior knowledge of this lawsuit, and withheld this information from us until two days ago.
That makes me believe the plaintiff.
Either way, I want no part in this lawsuit. I'll have to call the Escrow officer and find out if the title is in the clear, and not part of this lawsuit.
Anything else I need to worry about? (As if I needed more) I really annot have more bad luck at this point.
-Ed
