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Old 12-27-2008, 03:54 PM
 
4,267 posts, read 5,312,530 times
Reputation: 3579

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You might get a better response by posting your question in the real estate forum.
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Old 12-27-2008, 04:13 PM
 
Location: Just south of Denver since 1989
10,911 posts, read 29,411,953 times
Reputation: 7144
I'd go after the real estate attorney for saying you didn't need a real estate contract. Can you prove that?
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Old 12-27-2008, 04:44 PM
 
33 posts, read 94,223 times
Reputation: 16
Quote:
Originally Posted by 2bindenver View Post
I'd go after the real estate attorney for saying you didn't need a real estate contract. Can you prove that?
The real estate attorney didn;t say that.
The guy (buyer) suggested that we didn;need a lawyer.
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Old 12-27-2008, 06:15 PM
 
Location: Kingman AZ
15,371 posts, read 34,668,522 times
Reputation: 9016
have you purchased any bridges to Brooklyn lately??????
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Old 12-27-2008, 06:25 PM
 
33 posts, read 94,223 times
Reputation: 16
Yes, I was a fool wasn;t I?

It was a good lesson learned. I am a old traditionalist who believes a handshake seals a deal....and my word is good. if I say I am will be there or agree to help, I will be there. In this day and age, sadly, you can no longer do that. But hell we had a signed deal and the jerk still backed out.

I could have avoided it by making the guy put down earnest money..but not a mere 1000 or 1500 bucks. In commerical property it is often wise to ask for 10-15% of the agreed selling price. This ******* wouldn't have walked away if he was going to loose 15-20k. And he had the money too. I do belive in karma and what you dish out you eventually get back. We shall see huh?

So yeah, I messed up. Nowadays, honesty and hand shakes will get you nowhere.

Cheeko
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Old 12-28-2008, 10:06 AM
 
Location: Avondale, AZ
1,209 posts, read 4,257,710 times
Reputation: 918
Try presenting your story to Bill Handel, ace radio lawyer and general wise guy. On his website you can put your story in front of a panel of lawyers to determine if you have a case or not. Google search his name. Good Luck.
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Old 12-28-2008, 10:52 AM
 
Location: SW Missouri
15,847 posts, read 30,373,205 times
Reputation: 22356
Quote:
Originally Posted by cheeko View Post
We drew up our own. I know bad move...BUT..on the paper there was an offer and an acceptance. At the bottom where I signed it I actually wrote "accepted at 140k" then dated and signed it. I took it to a real estate lawyer and he said I had an "enforceable" contract. Listed was price, steps of progression (appraisel, inspection,etc), the address of the building, both of our signatures, approval from his board and he stated "things will proceed quickly". There was no earnest money down.

He backed out because he found another building to buy. He even had an appraisel done and had it approved by his board members. This I have in writing. He admitted he had the financing (I have that in writing and verbal) and the only continguecy was that it had to pass a asbestos inpection. He had scheduled for that but then found another building and informed me he wanted to "retract his offer". I told him he couldnt and he stated that he could and that he could have evn walked away at the day of closing if he wanted to. he told me he saved 20k by buying another building and thats why he breached. Him and his lawyers are saying the contract was no good. The real estate lawyer I consulted with said the paper we signed had all the necessary things to be "an enforceable contract". I could not afford to hire him and thats why I want to represent myself. BUT I need a lot of help because I want to win this case.

I "broke even" from the auction sale price at 92,500. At that price, I had enough to pay off the bank note and pay off the auction company and that's it. He contracted with me at 140k. Therefore I lost about 50k (potential profit) by him breaching out. (the difference from his contract and the auction sale price.) Damages? yes, because I took such a loss I had to file bankruptcy. I have been stressed out mentally since he backed out as well.

I need all the help I can get...and thanks for replying.

Cheeko
Having an enforcable contaract and suing someone for damages are two entirely differnt things. You might have been able to sue for specific performance if you had not sold the property. Since you chose to sell it at auction and accepted the bid, I seriously doubt that you can sue for the difference.

You have already made a huge mistake by not having an attorney draw up the real estate contract. If you had paid for that service you might not have had to pay for the bankruptcy attorney.

Before you add the expense of a lawsuit for breech, I suggest you talk with an attorney to see if you even have a case, which I do not believe you do. In the alternative, if you are DETERMINED to represent yourself, at least take a look at the statutes governing real estate transactions and contact your state professional licensing board and find out what their rules and regulations are pertaining to breech.

20yrsinBranson
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Old 12-28-2008, 05:37 PM
 
33 posts, read 94,223 times
Reputation: 16
Whether it be a REAL real estate contract or what we wrote up, they are both "enforceable contracts." This is what my real estate attorney told me when I paid him for consultation. He also told me i can sue for the difference of the money. He further stated that ANY contract can be questioned in the courts. What we had written up met all the criteria necessary to be a legal and binding agreement. You may want to look up what exactly constitutes a "legal and binding agreement."

I have absolutely nothing to lose by representing myself in a civil court.
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Old 12-28-2008, 07:52 PM
 
Location: Pueblo - Colorado's Second City
12,182 posts, read 21,031,288 times
Reputation: 4259
The saying that come to mind is "the person who represents him self has a fool for a client". Nothing personal but if I were you I would not ask us for advise but get a attorney.
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Old 12-29-2008, 05:09 PM
 
33 posts, read 94,223 times
Reputation: 16
I disagree. i have represented my self twice and won. yes it was only small claims court but a civil court wont be much different. I have to learn the basics on how to conduct myself, gather my facts and witnesses and present my story.

I have already gotten advice from an attorney and hes says I have a enforceable contract. I cannot afford to hire him therefore I will take responsibility for myself and present my case. This is still america...kinda.
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