Home Buying in Los Angeles>Question Details

Kyle, Home Buyer in Sherman Oaks, CA

I am in escrow with a developer on a new home. I signed off on the liquidated damages form so that he can put

Asked by Kyle, Sherman Oaks, CA Mon Jun 16, 2008

in the flooring I selected. However, I just found out that there will be a drainage ditch running down the entire side of my yard. The developer said this is required by the city but this was not disclosed to me at all. I feel cheated because they made me sign the form saying my 3% deposit is non refundable once flooring is installed but yet I just found out about this huge ditch in the yard. Who's side is the law on if I choose to cancel escrow. I have not removed loan contingency and final inspection contingency.

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6
Your Realtor should be able to help you cancel the contract. Take a look at the plot maps...they probably had you sign or initial them. Was the ditch disclosed on these?
Web Reference: http://www.cindihagley.com
0 votes Thank Flag Link Sun Jul 6, 2008
Cindi Hagley, Real Estate Pro in Pleasanton, CA
MVP'08
Contact
Talk to your lender and agent. The fact you have not removed loan contingency may be your "hole card".
0 votes Thank Flag Link Sun Jul 6, 2008
Kyle,

You definitely need a real estate attorney for this. It sounds like you may have been pressured into signing something that you were not fully aware of the overall ramifications of.
Web Reference: http://www.DotChance.com
0 votes Thank Flag Link Tue Jun 17, 2008
Kyle,

If you have a Realtor, let them know you want to cancel and see if they have a Real Estate Attorney they use for you to consult with before you actually cancel. Since you do have the final inspection contingency, you should be able to recover your deposit, but please consult a Real Estate Attorney before you make any final decisions or sign anything else.

Jimmy Hutchinson
Atmosphere Realty
0 votes Thank Flag Link Mon Jun 16, 2008
This is a 4 feet wide concrete ditch that they just put in so it was definitely not there before and is now a major eyesore and safety concern. I do not want to wait for them to fix this and I just want to move on but I do not know how long of a protracted this battle will be. What they did was very shady.....putting in the ditch at the last minute.
0 votes Thank Flag Link Mon Jun 16, 2008
Hi Kyle,
Look for an attorney and get their advice
0 votes Thank Flag Link Mon Jun 16, 2008
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