Verani-Foster Real Estate Complaint - Predatory Realtor
MILFORD, NEW HAMPSHIRE -- I recently lost a court case in what should have been in my favor as the plaintiff.
In 2002 I placed a deposit of $11,000 as a good faith payment on property in NH. In NH there is no deposit agreement separate from the P and S..
It's all the same agreement. This favors larger deposits at risk.
Anway, I escrowed $11,000 with the realtor for the property . A few weeks later I discovered the legal "right of way" road was almost impossible to allow easy egress into and out of the property. A road would have to built at a cost of an additional $20,000. I wanted to escape the agreement under a "due diligence" clause of the agreement. I broke off the paper passing indicating I could not afford the property due to the additional expense.
One of the kangaroo court judges said I could not escape the clause and that the realtor had every right to confiscate my funds. WARNING; Be very careful in NH with REAL ESTATE agreements. Good lawyers are rare and the realtors dominate the courts in litigation.
Incidentally The owner of the property sold this property 4 weeks after I cancelled for $10,000 more than my offer. she suffered NO DAMAGES ! She and the realtor were enriched... I've broken agreements before as long as a due diligence clause was in the agreement. I've never had funds confiscated. In NH the mentality is quite redneck and many the judges side with businesses not consumers. I indicated I was a Vietnam Vet, and on social security at age 63. It didn't matter