Rescission of Real Estate Contract
Nov 30, 2009OUTCOME: My client won in binding arbitration and were awarded rescission of the purchase contract and return of their purchase monies.
Client Buyers purchased "AS IS" an undeveloped lot in Morgan Hill that was advertised by the Seller/Broker as "All Permits Done - Ready to Build". When the buyers applied for a building permit, the Cit ... y refused to allow them to buid due to an earthquake fault that ran right through the middle of the lot. The buyers hired me get their money back. They did not want the property as it was unbuildable. At arbitration a retired judge serving as a professional arbitrator heard the testimony of witnesses including geologists. At arbitration we discovered reports the seller did not disclose to my clients. The arbitrator awarded the buyers rescission of the purchase contract and ordered the seller/broker to return all of the buyers' money. The arbitrator agreed that the seller's AS IS defense does not relieve a seller of liability for misrepresentation as to the buildability of a lot. My client's review is posted on AVVO: "Sharonrose and her team did an amazing job guiding us through the entire process. Neither my wife nor I had ever been in arbitration before and didn't understand how it all worked. Her expertise on the subject matter, and on legal proceedings in general, made sure we presented the strongest case possible to the judge. I can't imagine having to go through this by myself or even with another attorney. I would strongly recommend Sharonrose and her team in any legal matter someone may have."
