Consumer Litigation Law Center obtains large settlement for client in broker negligence and breach of fiduciary duty case
Summary: Litigation case by sellers of Commercial Property against Real Estate Broker, Real Estate Agent and Buyer for Negligence, Breach of Fiduciary Duty and Breach of Contract results in large settlement and default judgement for Sellers by Consumer Litigation Law Center
Consumer Litigation Law Center (“CLLC”) recently obtained a cumulative $418,000 settlement from buyer’s and seller’s real estate brokers in a broker negligence and breach of fiduciary duty case involving the sale of real property with a seller carry-back loan and business profit participation as further incentives. CLLC was also able to obtain large default judgments against the buyers on behalf of the sellers.
Following the sale of the property, the buyers did not make a single payment on the carry back financing loan from the sellers or a single payment from the agreement to share in profits generated by the buyers at the property.
CLLC’s aggressive advocacy and thorough knowledge of the law and facts at issue led to a substantial settlement with the real estate brokers on both sides of the transaction shortly after filling suit. This settlement was the second largest settlement reached in this type of case for the presiding mediator and one of the largest paid out by the broker’s insurer.
With a thorough knowledge of real estate law coupled with an aggressive and creative approach to litigation, CLLC represents residential and commercial buyers, sellers, and real estate professionals to achieve outstanding results in litigation and often without even filing suit due to CLLC’s excellence in preparing cases for trial from the beginning of representation.
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