Los Angeles Breach of Real Estate Contract Lawyer
A real estate purchase agreement or contract of sale contains many terms and conditions of sale. If the buyer or seller fails to comply with the terms or conditions, such as the seller failing to provide clear title to the property, that party is said to have breached or defaulted on the sales agreement, and the other party may have a legal claim against the breaching party.
Extenuating Circumstances in Breach of Real Estate Contract Cases
If one of the parties fails to meet a contingency of the contract, such as the buyer failing to obtain financing, the parties will be released from the contract. If there is a dispute between the parties, they must use the dispute resolution process that is detailed in the contract, which may require the parties to resolve the dispute without going to court.
Terms and Conditions in Real Estate Purchase Agreements
Purchase agreements and contracts of sale contain many terms and conditions that the parties have agreed to meet, such as:
- A legal description of the property
- The purchase price
- The date the sale will be finalized – or “closed“
- The date the buyer will move in
- Items to be included in the sale, such lighting fixtures, appliances, etc.
- Items not included in the sale
- A guarantee to the buyer that the seller will provide clear title to the home, through an abstract of title, certificate of title or a title insurance policy
- A provision that the seller is responsible for paying house-related expenses up to the closing date
If either party who is responsible for complying with the specific term or condition fails to comply, that party has breached or defaulted on the contract. For example, if the seller fails to provide an abstract of title showing clear title to the property, the seller has breached the agreement. Similarly, if the seller takes lighting fixtures which he had agreed to leave attached to the property, the seller has also breached the agreement. The buyer can agree to a modification of the contract as to the title or the lighting fixtures and the price, or the buyer can offer to perform under the contract and then file a claim against the seller for breach of contract.
If the parties cannot agree on how to resolve the matter, the parties must use the dispute resolution process if one has been included in the contract.
Typically in Real Estate Sales Contracts, this is arbitration, mediation or small claims court. These specified methods for resolving disputes are usually less costly and more efficient than filing a traditional lawsuit. The parties submit the matter to the arbitrator, mediator, or judge, and that person decides which party breached the contract. Sales contracts often provide for liquidated damages if one party or the other breaches the contract. That means that the sales contract provides that should there be a breach of contract, the damages to the party not in breach of contract will be for a set amount of money, which is often the amount of the buyer’s deposit or earnest money.
Los Angeles area real estate sellers, purchasers, developers, landlords, leasers, mortgage brokers, and other parties who find themselves entangled in commercial or residential real estate conflicts are encouraged to contact an experienced Los Angeles Area Breach of Contract Attorney, Jeffrey Williams.
Professional Real Estate Litigation in Los Angeles
Real Estate Attorney, Jeffrey Williams, represents both plaintiffs and defendants in disputes such as the following:
- Residential Real Estate transaction disputes
- Commercial property development disputes
- Landlord / tenant issues
- Eviction assistance or defense
- tenants’ / renters’ rights disputes
- Property lease breach of contract
- Contractors’ lawsuits
- Eminent domain
- Quiet title
Real Estate Attorney, Jeffrey Williams, advocates for clients with purpose and determination to achieve optimal results in each and every case.