The Latest Successes from the Integra Law Group, LLP
By Colette R. Thomason
At DeLeon Realty, one of the ways we earn our commission is by providing sellers with free legal services through the Integra Law Group when they run into issues with a buyer while in escrow. These issues jeopardize closing and could result in dire consequences for a seller. The Integra Law Group has represented sellers with great success, including the following three disputes and resolutions.
Our client was in escrow with a buyer who, as is common in these disputes, refused to submit their earnest money deposit into escrow. The buyer claimed they had a title contingency when none existed. They also claimed a PG&E easement was not disclosed when the easement was in the public records and disclosed in the preliminary title report provided to the buyer before they submitted their non-contingent offer. The buyer boasted online that he had 20 years of experience in real estate development. Therefore, he had no grounds to claim ignorance. Our client soon sold the property to a different buyer, but at a loss compared to the breaching buyer’s more favorable price and terms. Our skilled negotiations resulted in the breaching buyer covering our client’s losses so he was made whole with no damages suffered from the breach.
In another case, our client was in contract to sell a newly constructed home when the builder recorded a mechanics lien against the property. We disputed the mechanics lien, but when it was apparent the lien would not be released prior to closing, we assisted our client in obtaining a lien release bond under Civil Code § 8424 to allow escrow to close. At the same time, the buyer was not able to close timely due to self-inflicted financing issues, but refused to cancel their purchase in an attempt to hold the property hostage. We were able to obtain a release from the first buyer while our client went on to sell the property for a higher price to a second buyer.
Lastly, a buyer entered into a contract to purchase our clients’ home with no contingencies and an earnest money deposit of nearly a quarter million dollars due within one business day. The deposit was never made. Instead, the buyer requested a five-day contingency, which our clients declined to provide. It was soon evident that the buyer could not liquidate their funds, or chose not to do so, and would not move forward with the purchase. With no deposit in escrow, we argued that the buyer was not protected by the liquidated damages provision and was instead liable for actual damages, no matter how high. We settled the case within the next several weeks with our clients receiving about 80% of what the deposit would have been and without the need for mediation.
I thoroughly enjoy representing clients in these types of disputes, especially because of my background in residential real estate litigation. Notably, I am a licensed attorney and not a licensed salesperson. I focus on delivering results on a complimentary basis for clients when legal issues come their way, so they can focus on their sale with as little stress as possible. This is just one example of what sets DeLeon Realty apart from other brokerages.
Colette Thomason | colette@deleonrealty.com | 650.543.8525
DeLeon Realty, Inc. | DRE #01903224 | Equal Housing Opportunity
