24 Jun Fernald & Zaffos Secures Purchase of $2.8 Million Home For Its Client In Hotly Contested Real Estate Transaction.
Fernald & Zaffos Secures Purchase of $2.8 Million Home For Its Client In Hotly Contested Real Estate Transaction.
This case presented a truly unique set of facts. Fernald & Zaffos’ client leased a home in Los Angeles, with an option to purchase it in the event it came on the market. A year into the lease, the home’s owner entered into a contract to sell the home to a third party. It was an all-cash transaction. When Fernald & Zaffos’ client became aware that an offer had been made on the home, they immediately made a matching offer, subject to financing.
Thereafter, the homeowner and the first buyer filed a motion to expunge the lis pendens recorded on the property by Fernald & Zaffos’ client. Fernald & Zaffos prepared a detailed opposition briefing and defeated the motion, obtaining a multiple-page opinion from the trial judge.
With the trial quickly approaching, Fernald & Zaffos now had the leverage to settle the case and did so on terms extremely favorable to its client. Fernald & Zaffos’ client closed on the purchase of the home during the third week of January 2017.
Fernald & Zaffos’ attorneys regularly litigate real estate disputes, including residential and commercial transactions, title issues, earth movement, as well as broker disclosure. We have assembled a team of go-to experts in the real estate field, which allow our attorneys to quickly come to the best strategy for resolving your dispute.