CRE Rookie - 1Yr Anniversary - Learned Alot Many Late Nights Thinking Why. Looking For Attorney to Fight Against Ten X
As the title states, I've completed my first year as the owner of a 49k sf Class C office building. Did the acquisition on my own, no mentoring, and alot of lessons learned.

I also have an issue with the fraudulent activities that the seller, Ten-X, and the sellers broker participated in. As professionals they should be sued for inflating fraudulent numbers and information. 

I would like to find an attorney that could pursue a case against these crooked sellers. It's one thing buying as-is assets, but it's another thing to misrepresent information and be an accredited licensed professional. 

I come from.investment banking/trading commodities. The lack of oversight and lack of professionalism from the sell side is laughable at best. From a pathetic spread sheet they called a rent roll, to mis calculations in square footage on the memorandum - there's a reason why these low lives are with Ten X and other sketchy outfits. 

I'm looking for an attorney that would like pursue a case against the sellers side and have their business practices suspended or stopped so that other buyers or investors won't be defrauded. 

Does anyone have any recommendations for an attorney that can pursue a CRE case against such bad characters?
[{"id": "ipbcv1k", "text": "What state are you in?  You have to weigh the costs with the benefits of a lawsuit.  It\u2019s probably not worth the brain damage.", "replies": [{"id": "ipbfrz3", "text": "Texas.\n\nThat's partially why I closed in the first place so my $600k wouldn't be tied up in the lis pendens. All while funding the law suit. Boy did I learn alot.\n\nBut there is major teeth to the case of an attorney would take a look at it. I wanted to stabilize the building and see how the guts of it behaved. \n\nEveryone from the sell side broker to the auction house and those that did the phase 1 and 2s grossly misrepresented the asset. Ten X then ran a fake auction with rouge bidding.", "replies": [{"id": "ipe7nsv", "text": "So you're saying you knew there was an issue BEFORE you closed.. AND YOU STILL CLOSED??? I'm going to assume you didnt talk to an attorney before you closed or you wouldn't be in this predicament.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ipbo90r", "text": "I'm sorry to say this but Ten-X's ToS, disclosures, and sale document most likely cover misstatements of fact and direct the buyer to perform all necessary due diligence.  And they are allowed to do seller bid's against the market in Texas.  It doesn't change the fact that they are awful.", "replies": [{"id": "ipcmx6j", "text": "Also, best of luck fighting CoStars army of lawyers. \n\nTake your lightsaber, you'll need the force.\n\nEtid: spelling", "replies": [], "depth": 2}, {"id": "ipdz0em", "text": "I bet OP is looking for a contingent fee arrangement also", "replies": [], "depth": 2}, {"id": "ipestws", "text": "Due diligence! Due diligence! Did I say Due diligence? Man people suck. Like someone posted earlier you absolutely have to hold their feet to the fire. The ugly stories and lengths sellers will go to inorder to push their numbers is insane! Like my ol man would say...very few people are if ever selling away a cash cow. They are getting rid of headaches and want you to pay premium while shaking your hand and smiling in your team's face! Sorry to hear this man.", "replies": [{"id": "ipexmh0", "text": "Agreed.  It\u2019s important to hire professionals to help with your due diligence (physical and financial). Even if you have experience in transactions, there are just a lot of moving pieces you need to deal with, that outsourcing some of it is the right move.", "replies": [{"id": "ipeygaf", "text": "Absolutely.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ipbrh88", "text": "Was there a disclaimer in the OM they provided? Typically there is and would eliminate your chances of success. In many cases its buyer beware and the reason many of us do not rely on their info and create our own models. Good luck either way - some of the lessons learned even when you lose money you can make up in future because you are on the lookout.", "replies": [], "depth": 1}, {"id": "ipc68l8", "text": "Texas CRE is buyer beware to the utmost extent. You'll pretty much have to prove fraud and a smoking gun or you may be spinning your wheels for a long time and at significant cost.", "replies": [{"id": "ipeaac0", "text": "Fraud can be proved.", "replies": [], "depth": 2}], "depth": 1}, {"id": "ipe9fxb", "text": "Get ready to:\n\nA. Give up after fighting for a few years. \n\nB. Straight up lose.", "replies": [], "depth": 1}, {"id": "ipeh0ed", "text": "I've participated as a seller in a Ten-X sale and worked with them pretty intimately on the auction process. As others have said, the ToS and CoStar's legal muscle will kill you before you start. I highly recommend you move on.", "replies": [{"id": "ipehg7q", "text": "I've traded equities and futures in a true auction. What they offer is childs play.", "replies": [{"id": "ipeiowq", "text": "OK man. Good luck.", "replies": [], "depth": 3}], "depth": 2}, {"id": "ipeqc62", "text": "If you know anything about auction theory and the application in the simplest form,, then you know that this isn't anywhere close to a legitimate auction.", "replies": [{"id": "ipf3322", "text": "Sounds like you're confident in winning a lawsuit against CoStar. Again, I say, good luck.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ipek1qg", "text": "Man I'm sorry it happened to you, but you have to dig dig dig and figure out all of this stuff before closing and then hold their feet to the fire that they are in violation of the PSA. If you review the PSA you will likely see that most of the covenants do not survive closing. Ten-X wants their cut, so if you can show the seller lied/misrepresented, in my experience they'll push the seller to lower the price to compensate you. It is a hard ball re-trade but the terms are so skewed you have to at times.\n\nBeyond that, surely Ten-X is protected from these types of threats, in that they are a platform who relies on the representations of the sellers, seller brokers, and the third parties hired for the cheapo DD whitewashing.\n\nShill bidding is disclosed in their terms. \n\nRegarding the broker, you could file a complaint with TAR, but that's almost laughably pointless unless they pointed a gun at you and took your money. You also probably acknowledged that you did not rely on their representations and did your own DD.", "replies": [{"id": "ipeqr24", "text": "Succinctly stated. \n\nI did retrade at the last minute as soon as the auction closed by having them drop it by 400k otherwise I'd walk and they could F themselves. Ofcpurse they dropped it, then I knew they had weak hands. \n\nI stay true to my numbers and closed at what I asked them to drop it to. I could've had them drop it by more.", "replies": [], "depth": 2}], "depth": 1}, {"id": "ipemzvu", "text": "Texas attorney here. What PSA did you use? No counsel there?\n\nHappy to discuss specifics. Paid consult.", "replies": [{"id": "ipeq6t5", "text": "The PSA used was the standard provided by fidelity national. Loosely written imo. I reached out to a well known Texas attorney on his thoughts. There are teeth to this case if other buyers can form together and generate a case.", "replies": [{"id": "ipeqf9f", "text": "There\u2019s no such thing as a Standard PSA. Who did you talk to? You talking about class action?\n\nHow do you value your damages?", "replies": [{"id": "iperfps", "text": "I'm talking class action to shut down their childish auction. Their process would be laughable in front of a hedge fund or oil traders that partake in true auctions on a daily basis.\n\nI'm not worried about my loss bc I know I can dig my self out of it. I just don't want their fraudulent definition of an auction to extract undeserving dollars away from legitimate buyers.", "replies": [{"id": "ipes52y", "text": "Okay.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ipenjyq", "text": "You would be better off hiring a hacker to make costar\u2019s data public. They have unlimited legal resources and it doesn\u2019t sound like you have enough ammo.", "replies": [], "depth": 1}, {"id": "ipf16qq", "text": "Based on your comments in the thread: you didn't do enough diligence, you didn't hire the appropriate professionals (e.g., closing lawyer), and you closed on the deal despite having reservations / red flags. You don't have a case and don't have remotely enough resources to take on CoStar.\n\nYou keep saying that the counterparty has \"weak hands,\" their work is \"child's play\" and \"laughable,\" and you could've negotiated a better deal. But you *didn't* negotiate a better deal and *you're* the one stuck with a lemon of a property.", "replies": [{"id": "ipf2l3g", "text": "I think I got a good deal, I was looking for greatness or stealing it. Get some rest now.", "replies": [], "depth": 2}], "depth": 1}, {"id": "ipf1wnz", "text": "Ten X and Auction.com disclose that they engage in shill bidding, everyone knows that.", "replies": [], "depth": 1}]