I’m an interested party to a specific performance lawsuit for a commercial transaction from, gosh, over 3 years ago. I was the agent.
Long story, but essentially this: property was in contract for a long duration of time because seller couldn’t remove a tenant… during the time the property was in contract, the city announced significant zoning changes for the area… which made the property more valuable overnight… seller, naturally, didn’t want to sell after this happened, at least at previous contractural price…
It appears that now a referree is going to be appointed after all of this time, and as brokers we’ve joined the specific performance action as an interested party, and have been given the right to intervene…
What does this mean? Sounds like we will be able to present our brokerage bill and get paid… any thing that I should look out for?