Legal Question in Real Estate Law in New Jersey

Foxton

I was listed with Foxtons in NJ last year.They filled for bancruptcy but I was still legally bound to the contract.There was obviously no one working on my sale and my condo did not sell. Now the market it horrible and I am forced to list my house 30K less then what I originally was selling the place for. Can Foxtons be legally held accountable?


Asked on 5/03/08, 1:19 pm

1 Answer from Attorneys
John Corbett Corbett Law Firm LLC

Re: Foxton

Possibly.

There is probably a contractual obligation that was breached even with the bankruptcy. The question is whether there is anyone or anything left to sue. Even if Foxtons did a Chapter 7, the trustee may have sold the open contracts to another broker who would then probably become obligated to perform on them. For $30k some research may be in order.

See also: http://info.corbettlaw.net/lawguru.htm

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Answered on 5/03/08, 3:38 pm


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