Houston, TX – As the Houston real estate market continues to flourish, particularly in areas near downtown such as Acres Homes, young families looking for homes are a common sight. These homes, especially if renovated, are fetching prices starting at $300,000, according to local attorney Paul Simon. However, amidst the bustling property deals, some residents have fallen prey to less scrupulous offers.
79-year-old Barbara Rose, a great-grandmother of 20, intended to relocate among relatives in Tennessee for a peaceful retirement. In pursuit of this dream, she received a compelling offer for her home of nearly 25 years from a company operating under the name HomeBuy Solutions, represented by Nikola Knezevic. The initial proposal promised Rose $108,000, a sum detailed on her contract as her net earnings from the sale.
The reality, however, starkly contrasted the figures written down. Rose only received $48,000, significantly less than what was promised, realizing soon after that she had made an overwhelming mistake. This prompted her to reach out to her close friend, Edna Griggs, who in turn sought the assistance of attorneys David Tang and Paul Simon.
During the court proceedings, it became evident that the value of Rose’s property had been grossly underestimated in HomeBuy Solutions’ offer. Expert testimonies during the trial revealed that the actual worth of her house was in excess of $220,000. The jury ultimately ruled that HomeBuy Solutions had committed fraud in their dealings with Rose.
As a result, the jury awarded Rose a total of $754,000, which included $400,000 in punitive damages for the deceitful practices of Knezevic, $136,000 in actual damages reflecting the true value of her property, and $218,000 in attorney fees. The verdict was influenced by the lack of remorse shown by Knezevic during the trial, according to Simon.
The case of Barbara Rose highlights a worrying trend in the community, where residents are frequently targeted by entities looking to unfairly acquire properties. “When something sounds too good to be true, it probably is,” advised attorney David Tang, suggesting that sellers should carefully evaluate offers and possibly slow down the transaction process to ensure fair dealings.
This cautionary tale serves to remind residents of their rights and the importance of due diligence in property transactions. The attorneys involved encourage homeowners to seek independent advice and to meticulously verify the credentials and intentions of potential buyers.
The attorney representing HomeBuy Solutions was not available for comment regarding the court’s decision.
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