Shah’s of Sunset couple, Reza Farahan and his husband, Adam, are entrenched in real estate drama after their dream home purchase turned into a nightmare.
The Blast obtained the legal documents, which were filed by a woman named Angela Williams, in LA County. Angela alleges that she entered into a legal agreement to sell her 4-bed, 3-bath, 3000 square foot Encino home to Reza and Adam, in March. The two sides agreed to written terms and the couple put $74,850 into an escrow account. The escrow process progressed normally until the appraisal was submitted. The documents do not reveal the appraisal figure, but Angela shut down the deal supposedly because Reza and Adam “failed to qualify for a loan due to the appraisal.”
Real estate contracts typically include appraisal contingencies, allowing the buyer a penalty-free way out, if the property appraisal comes back below the offered amount. An appraisal issue can also raise problems in the bank loan process if the figure comes in much lower than the offer. Angela’s lawsuit indicates that the appraisal came in higher than the listing price, which seemingly dismisses this scenario. The suit claims that the Bravo duo missed deadlines connected to contingencies, leading to the cancellation of the deal. Angela believes that Reza and Adam should forfeit their deposit, and alleged that Reza “unreasonably failed to participate” during an attempted mediation effort. She states that the house was sold to a “third party” during the failed negotiation with the couple, and is asking to be awarded the $74,850 plus attorneys fees.
The California property was once owned by tennis Hall of Fame member, Alex Olmedo, a Peru native, and USC NCAA champ. Olmedo won Wimbledon, the Australian Men’s championship, and the U.S. Open & Davis Cup championship. The estate boasts a lighted tennis court designed and built by Gene Mako, a tennis star whose name is imprinted in the court. Olmedo passed away last December at the age of 84, after a cancer battle. It remains unclear if he was living on the estate at the time of his death.
Avigail is an Entertainment blogger at All About The Tea, who specializes in The Real Housewives of Atlanta and The Real Housewives of Potomac. Avigail has a background in marketing. She’s a Brooklynite living in the Bahamas, with a passion for travel, writing, reality TV watching, pop culture and spoken word.