Our client entered into a contract to purchase a large commercial property for residential development. The client invested significant sums of money into due diligence and also had a national builder in agreement to purchase the lots once the sale closed. Despite a valid and enforceable contract, the seller refused to close.
The goal was for our client to close on the property. The approach was designed to bring about this result. When we were unable to convince the seller to sell, we filed a lawsuit for specific performance of the contract and a lis pendens. After engaging in some discovery, it was apparent that the seller was being courted by another purchaser who was interfering in our client’s contract.
The challenge, in this case, was that our client needed to close on the property or be ordered specific performance quickly. It is hard to obtain this relief from the courts in a manner that is quick and efficient. Thankfully, we were able to prepare the case and conduct discovery in a manner that convinced the seller to sell the property to our client quickly.
