Elderly Father Won House Auction, But...

[DeJohn]

What is the name of your state (only U.S. law)? Florida

My 85 year old father "won" an auction for a house in Florida. He is probably incompetent and shouldn't have been bidding. My father foolishly told the Realtor running the auction how much he was willing to bid, and that was exactly were the other bids stopped, which was very "fishy". The Auctioneer and Realtor also "baited" him by telling him they could close very quickly, which was what he wanted. After he won the auction and signed the contract, they said they will close by what was written in the contract, not what they led him to believe. My father lives in a different State than the auction. He gave them a 10% down payment check, which is held in escrow, but he stopped payment on the check. Is there any way he can get out of this contract and not be held liable?

Thank you in advance!

 

[Ohiogal]

What is the name of your state (only U.S. law)? Florida

My 85 year old father "won" an auction for a house in Florida. He is probably incompetent and shouldn't have been bidding. My father foolishly told the Realtor running the auction how much he was willing to bid, and that was exactly were the other bids stopped, which was very "fishy". The Auctioneer and Realtor also "baited" him by telling him they could close very quickly, which was what he wanted. After he won the auction and signed the contract, they said they will close by what was written in the contract, not what they led him to believe. My father lives in a different State than the auction. He gave them a 10% down payment check, which is held in escrow, but he stopped payment on the check. Is there any way he can get out of this contract and not be held liable?

Thank you in advance!

Nope. He will be held liable. Were you present when the Auctioneer and Realtor "baited him". What does close very quickly mean? Your father may be older but that doesn't mean he is incompetent. Where are the medical records to show he is incompetent? If he is incompetent, who is his guardian? Him stopping payment on the check can get him sued or even charged criminally.

 

[OHRoadwarrior]

Actually, Nuff Said.

 

[latigo]

What is the name of your state (only U.S. law)? Florida

My 85 year old father "won" an auction for a house in Florida. He is probably incompetent and shouldn't have been bidding. My father foolishly told the Realtor running the auction how much he was willing to bid, and that was exactly were the other bids stopped, which was very "fishy". The Auctioneer and Realtor also "baited" him by telling him they could close very quickly, which was what he wanted. After he won the auction and signed the contract, they said they will close by what was written in the contract, not what they led him to believe. My father lives in a different State than the auction. He gave them a 10% down payment check, which is held in escrow, but he stopped payment on the check. Is there any way he can get out of this contract and not be held liable?

Thank you in advance!

You and your father should set up a consultation with a local attorney that can review all of the circumstances and terms of this so-called "auction". It might be characterized as either a con or a lottery.

However, I'm sure the attorney will tell you that since the contract was to be fulfilled in Florida that its courts will be able to exercise personal jurisdiction over your father should an action be brought for breach of contract. Which will obviously pose some geographical difficulties in presenting a defense.

Also there are a number of substantive issues that should be address such as the measure of damages and the Florida statute of frauds with respect to transactions involving land.

But if you do nothing, then expect the worst.

Good luck