Real estate litigation can happen to anyone, from buyers and sellers to real estate agents, there’s always a potential for a lawsuit. With a lot of money on the line, it’s crucial to have an experienced attorney who has a great understanding of Michigan’s real estate laws that can help those make educated and informed choices.
Here are three of the most common reasons for real estate litigation.
Breach of Contract
Whether it’s a purchase, sale agreement or lease– it’s a form of contract. When a person signs a contract, there are terms and conditions which are disclosed in the contract. The terms can include the closing date, items included in the home, financing and much more. In the event that either party fails to comply with the terms of the contract, this could result in real estate litigation.
Breach of Duty
A real estate agent should always have their client’s best interests at heart during the selling or buying process. However, negligence that’s either intentional or not, could result in real estate litigation. If the realtor doesn’t take the appropriate action, then the buyer or seller can file a lawsuit.
If the seller is aware of an issue with their property, it’s their obligation to disclose it. Example of uses are leaks, mold, non-permitted home improvements and more. If the person buying the property can prove that the seller or agent had prior knowledge of the situation but didn’t disclose it, it can result in real estate litigation. For these disputes, the information that is gathered during the inspection and closing documents is very important.
At Aldrich Legal Services, our attorneys have litigated literally thousands of cases. Our founding attorney, Brad Aldrich, is a knowledgeable real estate lawyer and skilled trial lawyer with more than 20 years of legal experience. He is a licensed real estate broker and owns multiple commercial properties. From standard contract disputes to complex commercial property litigation that requires a high level of legal sophistication, you can be confident that your legal matter is in good hands. Contact us today at (734) 404-3000.