Legal Question in Civil Litigation in California
Breach Of Contract
Facing Foreclosure/Bankruptcy, felt moral obligation to try. Signed contract with ''We Buy Houses'' co. Web ad says; We have cash to buy now. Co. said they could beat first offer,(other co. 16k less/7-day close) but needed 1-mo. Simple terms,(2pg contract)guar. amt, 30-days as is condition. They asked to show house to try and sell,if it sold for more, then they would give us more. We said: ''More money would be great, how you do it is up to you, but 30-days/cash is the contract we signed and hold you to. Per contract you purchase/close 30-days and pay cash!'' We were reassured contract would be honored no matter what, just they sometimes do this and not to worry, that all terms will be met. If contract had been honored, then house would not foreclose, debts would be paid in full, as creditors agreed to wait 30-days for pymt. and we would be debt free. Result: 21-days late and thousands less (not counting 90k more they got) we were paid.Deducted were monies for items we knew nothing about/agreed to, owe taxes for new buyer 30+ extra cash for remodling added on to their loan amt, creditors no longer will deal and want more and options of Bankrupt/debt consolidation taken away. We are worse than before and that is not all of it!!!
2 Answers from Attorneys
Re: Breach Of Contract
I really hate these after-the-fact how-do-you-lock-the-barn-after-the-horse-is-stolen questions. You could have called a bankruptcy lawyer and the foreclosure would have been stopped cold and your creditors would have been dealt with. Instead, you went with a scam artist. I bet you didn't even read the contract you signed, nor did you check out the company, nor did you spend the trivial sum of money it would have cost you to have a lawyer read the contract and advise you on whether this was a good deal or not. Now you are deeper in the muck than when you started out. There might possibly still be something a lawyer could do to help you (although getting your money back from the scam artists probably isn't in the cards). So what are you waiting for? Get your head out of the clouds, and call a lawyer and make an appointment to see him or her.
Re: Breach Of Contract
You need to take all your paperwork to an attorney for review and find out what you DID sign, etc. Also, if the entity who you contracted with is licensed under a California Real Estate Broker's license, you may have some avenues to pursue. If you had an escrow, did you receive an estimated settlement statement?
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