BY: STAFF REPORT | BocaNewsNow.com
BOCA RATON, FL (BocaNewsNow.com) (Copyright © 2023 MetroDesk Media, LLC) — A Boca Raton woman is facing a lawsuit valued at hundreds of thousands of dollars after she allegedly refused to sell her condo.
According to the lawsuit just filed in Palm Beach County Circuit Court, Krista McGrath entered into an agreement to sell her condo at 800 South Ocean Blvd., Penthouse 6, in Boca Raton for roughly $8,500,000. It was to be purchased by someone else who lived in the building who listed his home. The seller had a listing contract with Coldwell Banker — which stood to make a commission of several hundred thousand dollars in the deal.
But before closing, according to court documents, Kristina McGrath decided to unsell her home. More specifically, she refused to close, leaving her agents at Coldwell Banker, and the buyer’s agents at Douglas Elliman Florida, high and dry. The buyer’s agents also stood to make hundreds of thousands of dollars, as both sides were set to split 6-percent of $8,500,000.
Even worse, according to the suit, Douglas Elliman successfully found a buyer for the home of the client who wanted to buy McGrath’s home. Since the McGrath closing couldn’t take place, the sale of the buyer’s home couldn’t be completed, either. That left Douglas Elliman out even more money.
Douglas Elliman is now suing Kristina McGrath for hundreds of thousands of dollars. We encourage you to read the complete lawsuit here. And if you want to see the condo in question, here is the complete Zillow listing.
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