833 N.E.2d 18 (Ill.App. 2 Dist. 2005), 2-04-0937, Suburban 1, Inc. v. Ghs Mortgage, Llc
|Citation:||833 N.E.2d 18, 358 Ill.App.3d 769, 295 Ill.Dec. 536|
|Party Name:||SUBURBAN 1, Inc., d/b/a Re/Max Suburban, Plaintiff-Appellant, v. GHS MORTGAGE, LLC, d/b/a Windsor Mortgage; Karen Sullivan; and Douglas Sullivan, Defendants-Appellees.|
|Case Date:||July 20, 2005|
|Court:||Court of Appeals of Illinois|
[Copyrighted Material Omitted]
Stanley A. Walton III, Willowbrook, for Suburban 1, Inc. d/b/a Remax Suburban.
Richard C. Perna, Joonho Yu, Fuchs & Roselli, Ltd., Wheaton, for GHS Mortgage, LLC.
Mark T. Schmidt, Janella L. Barbrow, Lora D. Kadlec, Schmidt & Barbow, P.C., Wheaton, for Douglas Sullivan, Karen Sullivan.
Plaintiff, Suburban 1, Inc., appeals the dismissal with prejudice of its third amended complaint alleging fraud and conspiracy against defendants GHS Mortgage, LLC (doing business as Windsor Mortgage), Karen Sullivan, and Douglas Sullivan, in this case involving a failed real estate deal. We affirm.
The following facts are taken from the record. On May 1, 2003, [358 Ill.App.3d 771] David and Cathy Griffith, realtors with Suburban 1, Inc., a real estate broker, were retained by George and Connie Jiang to sell their home in Wheaton, Illinois. The contract between the Griffiths and the Jiangs provided that, upon the sale of the Jiangs' home, Suburban 1 would receive a percentage of the sale price as a commission. Subsequently, the Sullivans made an offer to purchase the Jiangs' home. Because the Sullivans' offer was contingent upon the sale of the Sullivans' home, the Jiangs refused the offer. Later, two offers were made simultaneously for the Jiangs' house; one of the offers was from the Sullivans. The Sullivans' second offer exceeded the Jiangs' asking price by $5,000 and did not contain a contingency that the Sullivans first sell their home. However, the offer did contain a contingency that the Sullivans obtain 90% financing by June 16, 2003, for a conventional 30-year fixed-rate mortgage at a rate not to exceed 6%. The Jiangs accepted the Sullivans' offer on May 9, 2003.
Two days before the Jiangs accepted the Sullivans' offer, Kevin Morse, branch manager of Windsor Mortgage, signed a letter stating that the Sullivans qualified and were approved for financing of 90% of the sale price of the Jiangs' home and that the sale of the Sullivans' current home was not required for their mortgage approval. The letter also stated that final approval would be available within one or two weeks after the Sullivans' formal mortgage application and a satisfactory appraisal of the Jiangs' home.
After the Jiangs entered into the contract to sell their home to the Sullivans, the Jiangs entered into a contract to purchase a home in Naperville. The Griffiths were their agents...
To continue readingFREE SIGN UP