Foreclosure in 92101>Question Details

Alison, Home Seller in San Diego, CA

Can I get all of the other buyers who purchased in the same time I did together and do a class action lawuit?

Asked by Alison, San Diego, CA Thu May 7, 2009

I purchased a condo in a building where the developer has been foreclosed upon. I believe via information
that I uncovered after moving in that the real estate agent representing the developer, the developer and the title company were all aware of the financial issues prior to my purchase as taxes on several units they owned were in arrears, however, they all indicated that there were not financial problems at my time of purchase.
Can I get all of the other buyers who purchased in the same window of time I did together and do a class action law suit as this was not disclosed to any of us and we have all been impacted by this deception?

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Answers

4
In October 2010, the Fourth District of the California Courts of Appeal dealt with similar but not identical issues but the principles it stands for are the same. If a listing agent is aware of the risk that an escrow might not close due to seller's financial difficulties, that agent has a duty to make full and complete disclosure on the state of affairs even BEFORE the escrow is opened.

It appears that all the buyers are in the same situation. I think there is enough commonality to form a class action.
0 votes Thank Flag Link Tue Dec 28, 2010
I would get a good real estate attorney. You should be going after the broker not the real estate agent. If this was not disclosed, you might want to speak to all the other people in your situation and see if anybody knows more than you do.

Good Luck....
0 votes Thank Flag Link Fri May 8, 2009
Alison,

Be sure the attorney you consult specializes in Real Estate issues.

Kind Regards,

Marcie Sands, REALTOR
Simply The Best Real Estate Company, Inc.
760-644-1562
0 votes Thank Flag Link Fri May 8, 2009
Hi Alison,

The best we can offer is that you all contact an attorney.

Best to you
0 votes Thank Flag Link Fri May 8, 2009
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