Successfully Defends in Major Real-Estate Contract Case

ATTY. LARRY YANG here pictured with client MR. N, (below), successfully defended Mr. N in a major real-estate contract case. Mr. N sold a 4-unit apartment complex for the full list price of $450,000.00, as is, to buyer. Buyer then asked for $10,000.00 credit for repairs after the physical inspection of the property.

Mr. N told his real estate broker that he was not selling the property anymore because of the requested repair credit of $10,000.00. However, Mr. N’s broker, instead of telling buyer that Mr. N was net selling the property anymore, told buyer that Mr. N rejected the $10.000.00 repair credit but was still selling it for the full list price of $450,000.00.

Buyer then opened escrow for $450,000.00, placed a deposit of $100,000.00 and sued Mr. N for specific performance and consequential damages of over $200,000.00, to force Mr. N to sell the property to her at $450,000.00.

During the pendency of the state court lawsuit, the value of the property had increased to $1.0M according to buyer. Buyer had sold her residence in Palos Verdes to buy Mr. N’s property.

Superior Court Judge B. Cooperman (Ret.) decided in favor of Mr. N after 3 days of binding arbitration and one day of oral arguments.  Atty. Yang said that the case turned out to be very complicated legally because Mr. N’s broker testified against him and there was a signed contract of sale for $450,000.00. The fact that the property had increased in value by half million dollars created tremendous pressure on both parties and lawyers to win the case. Buyer, buyer’s broker and Mr. N’s broker had ganged up to force Mr. N to sell the property at $450,000.00. Mr. N is ecstatic with winning the case through Atty. Yang and said: “ I am fortunate to have Atty. Yang represent me on my legal case!”

Lawrence Bautista Yang is a graduate of Georgetown University Law Center and has been in law practice for thirty years.  He specializes in bankruptcy, business and civil litigation and has handled more than five thousand successful bankruptcy cases in California.  He speaks Mandarin and Fujien and looks forward to discussing your case with you personally.  Please call (626) 284-1142 for an appointment at 1000 S Fremont Ave, Mailstop 58, Bldg A-1 Suite 1125, Alhambra, CA 91803.