Legal Question in Real Estate Law in California
26 months ago we entered into a lease option. We put down 5000.00 plus each.month 400.0 went toward down. The owner and he is a real estate broker by trade write the agreementin his favor so thst if we oull out we lose our money. We went into this with.our only option as we had filed a bk and had no ither choice. We apied for a loan with grernlight and we ate at the final stages. They rewuire proofof homeowners ins. I called aaa to get a wuote as we have auto with them. I was told in writing that there were 3 claims against the.property in 2011 and one us wTer dsmahe makingvthe house uninsurable. Eithout insurance fha will not aporove us. The.iwner did not disclose this to us priorto entering into this agreement. He just turned ocer disclosures to us. What are our options. Does he have to return our depisit and mobey to us what about ithet dsmages. Whatvabout a the rent we paid. He was chsrging us higher than average rents and took advantage of us. He knew he had to disvlise this info. He hS bern in teal estate for decades.
2 Answers from Attorneys
Your skip letter code makes this difficult to read and follow. Some of your words I can decipher by looking at the keyboard, and others do not make sense. What is the point of posting a question like this?
If you had 'bought' the property normally, a large list of disclosures, inspections and appraisals were legally required. The same is not true for a lease, or a lease option. They require far less disclosure.
You have bought yourself into a lawsuit with him. However, because he is a real estate broker, he is held to a higher standard of good faith and disclosure, so that works to your advantage.
Unfortunately, no one is going to guarantee you success or any specific outcome in this, or any litigation, even if they had already reviewed all the facts, evidence and documents.
If serious about hiring counsel to help in this, feel free to contact me. I�ll be happy to help fight and get the best outcome possible, using whatever defenses and sympathies there may be.
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