The statute of limitations usually runs out in 5 years and you are on the edge to get something filed with the state. You need to track where the parties to this transaction are now located - are they still with the same firms? You may have a case against the agents and brokers involved. Check with local licensing boars to find out where they work currenlty. Your case is with them and the broker they worked under at the time. You can also file an ethics complaint with their licensing board and the BBB, etc.
You will need an attorney for most of this to assit you. If you do not file soon, you will likely lose your opportunity. Do proceed with the ethics complaint for their respecitive licensing boards.
I hope this helps. Please post update!
Chiordi PLC - http://www.RealtyChix.com
The longer amount of time that goes by - the harder it will be to be successful.
Why weren't you looking out for them while this was going down?
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Licensed in Maryland, Virginia and Washington, D.C.
Assisting Homebuyer's and Seller's for 28 years
Contact a Lawyer is our best advice. Shop around a bit if you don't have one already but move on it keep a diary of what when how and who did what in order to present that to a lawyer so that he/she may be able to help you.
All the Very Best
Dave & Lisa
The first question that comes to mind is why it took so long to realize what had happened, although in most states there is no statute of limitations for fraud. I would not try to sue the others involved first. Instead, I'd contact DCFS, the Dept. of Children and Family Services in your city and file a complaint. Find out if this falls under their jurisdiction in CA. It does in my state. They can do the initial investigation and see what kind of tactics were used against your parents, gather paperwork, interviews, etc. If they find just cause, they will sue the agent and broker involved.
Scott Miller, Realty Associates, Boca Raton, FL
I've seen bullies in many different businesses. While I agree no one can make someone buy against their will, I do believe coercive tactics and fraud can be used against venerable people. Your question is a legal one and based on that, no one here can give you a straight answer with any certainty. I would suggest you talk to a couple of attorneys who specialize in real estate and possibly elder abuse.
It may also be worthwhile to look up the agent and lender involved to see if other people have complained about them or if they still have licenses. You may find out you are not alone.
Regarding you suing, my guess is that you wouldn't have standing as you were not part of the transactions, but you could do the legwork and possibly encourage your parents to pursue it if a lawyer feels it may have some merit. I'm sorry for what happened to them.
Sorry to hear about your situation & the foreclosure of your parents home. It is distressing to hear of practices like that - but I do not understand how a Realtor can force someone to buy a home, and what grounds would the agent have to sue your parents simply for not wanting to buy it? It kills me to think that there are agents who act like that when there are so many honest and knowledgeable agents who would have loved to help your parents and put their best interests first - agents such as you describe give all of us a bad name. In your situation, I would definitely recommend speaking to an attorney, especially as you mention that there is more to it and complicated to explain. They would best be able to advise you if either you or your parents have grounds to sue after reviewing all of the details with you - they might be the ones that would need to initiate legal action if it was their property and you had no financial interest. Good luck with your situation & hope it is resolved in a positive way for you & your parents!
Coldwell Banker Residential Brokerage