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Specific Performance of an Option Contract to Purchase Real Property is Barred Absent Agreement on All Material Terms

By:  Richard H. Herold On November 14, 2017, the Court of Appeals (Division 1), in Offerman v. Granada, LLC, 2017 WL 5352664, reversed a trial court order directing specific performance of an alleged option to purchase real property, holding that the alleged option was too indefinite to be specifically performed because the parties did not […]

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RH
Former Partner

Sellers Cannot Look to the Appraiser When Lenders Pull the Plug on a Prospective House Flip

By:  Eric Spencer An outgrowth of Arizona’s housing downturn in recent years has been the proliferation of would-be real estate investors who purchase, renovate and flip residential properties.   On the other hand, in part to prevent the next downturn from occurring, lenders have tightened borrowing requirements and balked at financing any purchase of a “flipped” […]

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