Resolving Purchase Agreement Disputes In California
Real estate deals are a common occurrence in Southern California. Whether you are purchasing your first home or a commercial real estate developer buying an investment property, purchase agreements are a critical step for your real estate deal. Sometimes, a purchase agreement dissolves into conflict and dispute.
At Simkin & Associates, Inc., our founding partner has been helping home buyers, real estate developers and commercial investors in California with real estate disputes for more than 30 years. Our Los Angeles real estate lawyers can help you enforce your rights as a party to a purchase agreement in a residential or commercial real estate purchase transaction.
Common Real Estate Purchase Agreement Disputes
Real estate purchase agreements can dissolve into disputes for various reasons, causing stress and potential financial loss. Here are some common issues you might face:
- Breach of contract: One party does not fulfill their obligations as outlined in the purchase agreement.
- Misrepresentation or fraud: The seller provides false information about the property.
- Contingency failures: Issues arise when contingencies, such as financing or inspections, are not met.
- Earnest money and deposit disputes: Conflicts occur over the return, retention or forfeiture of the buyer’s deposit.
- Closing delays: Problems lead to delays in the closing process, causing frustration for both parties.
- Undisclosed property defects: The buyer discovers significant issues with the property after the agreement is signed.
- Title disputes: Different parties are making conflicting claims regarding the ownership, use, or possession of a property.
At Simkin & Associates, Inc., our seasoned litigators can help facilitate an effective resolution for your disputes. Our real estate lawyers have the experience to assess your situation and help you craft a legal strategy that is designed to protect your legal rights as well as your real estate investment.
Alternative Dispute Resolution And Arbitration Clauses
Typically, most purchase agreements have a dispute resolution clause that the parties to a purchase agreement initial upon signing the agreement. The dispute resolution provisions usually provide that any dispute must proceed to mediation or arbitration prior to litigation.
Therefore, our experienced real estate attorneys will usually demand mediation before initiating litigation. Mediation and arbitration are both cost-effective methods for resolving your disputes. In the event the other party refuses to mediate, they will not be entitled to recover attorney fees, even if they would have otherwise been able to recover them.
If mediation does not occur or is not successful, the case proceeds to binding arbitration. Our experienced real estate litigators can represent you throughout your dispute resolution process.
Schedule A Consultation With A California Real Estate Litigator
If your signed purchase agreement is at risk of dissolving into a conflict or disagreement, our real estate litigators can provide guidance and advice based on decades of experience. To find out more or to schedule an initial consultation, call our office at 888-288-5723. You can also reach out to our office by sending a message through our website.