Real Estate and Builder Contract Disputes
Real estate sale contract disputes can arise for any number of reasons. A buyer and a seller shake hands on a purchase, then rely on their lawyer or a real estate agent to put things in writing. Most of the time, it's a smooth process from there until the closing. When it isn't, it's usually for one of a handful of reasons:
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The buyer ran into difficulty getting a loan and needs to back out of the transaction; meanwhile, the seller wants to keep the deposit, usually anywhere from 1% to 5% of the value of the deal. A dispute arises as to who gets to keep the deposit money.
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The sales contract doesn't accurately reflect the agreement between the buyer and the seller. For example, the seller may have verbally agreed to make certain repairs to the property or to remove a dilapidated outbuilding before the sale closes. If the sales contract doesn't include those promises, the buyer will have a hard time enforcing them.
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The title on the property is encumbered by restrictions the buyer can't accept. These can include restrictive covenants limiting how the new owner is able to use the property, easements that allow others to pass over the property, or boundary-line discrepancies (such as where a fenced-in part of the property may belong to someone else, or someone else may have put up a fence enclosing part of the property being sold).
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The seller failed to disclose important defects about the property. These are often hidden defects that have a serious impact on the property's value or on the buyer's ability to use the property after the purchase. Sometimes they aren't discovered until the property is examined after the contract has been signed.
We work very hard on behalf of our clients to anticipate these and other kinds of real estate contract issues before they arise. Making sure that the contract reflects the actual agreement between the parties and considers the possible things that can go wrong in advance can help ensure that if something does go wrong, the matter doesn't end up in court. If they do, we have the experience and expertise to effectively fight for our clients' rights.
If you need help with an upcoming real estate purchase, or have issues with an existing contract, call us today at 720-441-3328 or use our online request form to request a free consultation and find out how we can help.
