Legal Question in Real Estate Law in California
Problems with large real estate company
My elderly parents signed a loan agreement with a large real estate co. This co. loaned over $80K to bring the property out of foreclosure and in so doing became the second trust deed on the property. Later my parents were asked to (and did) sign another note for $12K against ''repairs'' to the property. These repairs are required by the city, but we have never received documentation as to exactly what the real estate co. intends to repair and how they arrived at a cost of $12K. What repairs have been outlined to us cost nowhere near $12K to complete; I was a licensed contractor for 15 years and estimator.
The contractor they hired to work on the property is not licensed. Request in writing to the real-estate co. for licenses, proposals, estimates, change orders and copies of permits have been ignored.
Should I file a complaint with the Department of Real-estate? Is the real-estate co. acting in the capacity of a prime contractor? They hired the contractor, made regular inspections & payments. Should I file a complaint with the Contractors License board against the contractor and Realtor?
The realtor has threatened to forclose if these repairs are not completed. Are my parents liable to future buyers for unlicensed work
2 Answers from Attorneys
Re: Problems with large real estate company
I agree with Mr. Whipple, but I cannot get the police to show up at my door unless I tell them to send over the coroner because I am going to shoot someone. The district attorney is only slightly less disinterested in what I say.
I would certainly contact the DRE, and I would do so in a concise complaint form mentioning what proof and documentation you have. The whole thing seems like a scam, and if it gets worse, I would contact an attorney immediately.
Very truly yours,
Re: Problems with large real estate company
As you know, unlicensed contracting is a crime. I have a hunch this is not the only illegal conduct going on here. One clue is that honest lenders would not initiate a program of repairs or come up with an amount. This may be elder abuse and/or some other form of fraud. You should make a police report and ask the police to involve the district attorney.
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