San Francisco property sellers allege buyer failed to pay note, deed of trust

By Noddy A. Fernandez | Jan 21, 2019

SAN FRANCISCO – Three sellers of a San Francisco property allege the buyer failed to pay the note and deed of trust.

Kenneth C. Chi, Franck C. Chi and Laura K. Chi filed a complaint on Dec. 27 in the San Francisco Superior Court against Outstanding Property Solutions LLC, David Poulsen, Keller Williams San Francisco and Does 1 through 20 alleging fraud, breach of contract and breach of fiduciary duty.

According to the complaint, in January 2016 the plaintiffs contacted Poulsen expressing desire to sell a San Francisco property and Poulsen agreed to act as their agent. The suit states in May 2017, they received an offer from an agent of Outstanding Property Solutions (OPS) for $1.7 million. The suit states OPS asked for an additional $80,000 on the loan to cover remodeling and resale costs, which the plaintiffs agreed to.

The plaintiffs allege they later learned OPS obtained another loan from a third party. They allege OPS never used the additional funds requested from the plaintiffs to renovate or remodel the property and that the property was later foreclosed upon.

The plaintiffs hold Outstanding Property Solutions LLC, Poulsen, Keller Williams San Francisco and Does 1 through 20 responsible because Outstanding Property Solutions allegedly failed to pay off the note and deed of trust.

The plaintiffs request a trial by jury and seek judgment for general and special damages in an amount of no less than $650,000, interest, punitive and exemplary damages, attorney's fees, and such other and further relief as the court may deem just and proper. They are represented by Jonathan Black and Stephanie Meyer of Weston Law Group, PC in Walnut Creek.

San Francisco Superior Court case number CGC18572366

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