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  #1  
Old 10-31-2008, 01:20 PM
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Seller won't leave Coop

New York

I am trying to buy a Coop in westchester NY. I have a signed contract, mortgage is ready to go, but Seller will not set a closing date. We were supposed to close on OCt 1. and it is novemeber in a few days.

I have even tried to find him rental apartments but he doesn't like any of them. The man is 85 years old and does not want to listen to anyone.

What can i do? I am desperate at this point, i don't want to loose my interest rate...I don't even think he will cancel the deal, seems like either way i am headed to court!

HELLP
  #2  
Old 10-31-2008, 04:22 PM
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Quote:
Originally Posted by hendricksm View Post
New York

I am trying to buy a Coop in westchester NY. I have a signed contract, mortgage is ready to go, but Seller will not set a closing date. We were supposed to close on OCt 1. and it is novemeber in a few days.

I have even tried to find him rental apartments but he doesn't like any of them. The man is 85 years old and does not want to listen to anyone.

What can i do? I am desperate at this point, i don't want to loose my interest rate...I don't even think he will cancel the deal, seems like either way i am headed to court!

HELLP
**A: seems like it.
  #3  
Old 10-31-2008, 05:28 PM
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Do you have a Time of the Essence clause in your sale contract?
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Then start crying uncontrollably. If that doesn't work, fill your pants with shaving cream and start screaming about the voices in your head. Maybe they'll feel bad enough about your other problems and let you out of the ticket.
  #4  
Old 10-31-2008, 06:56 PM
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Originally Posted by You Are Guilty View Post
Do you have a Time of the Essence clause in your sale contract?
**A: I doubt the 85 year old man will move any faster.
  #5  
Old 10-31-2008, 07:01 PM
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Originally Posted by HomeGuru View Post
**A: I doubt the 85 year old man will move any faster.
I doubt the 85 year old man will move, period. But at least if its in there, buyer has (potential) for recourse for the late closing.

OP - not that I would ever advocate it, but ever see the movie "Gaslight"?
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Then start crying uncontrollably. If that doesn't work, fill your pants with shaving cream and start screaming about the voices in your head. Maybe they'll feel bad enough about your other problems and let you out of the ticket.
  #6  
Old 10-31-2008, 07:15 PM
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Originally Posted by HomeGuru View Post
**A: I doubt the 85 year old man will move any faster.
Ever see how fast these elders move for something that's free, especially food?
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  #7  
Old 10-31-2008, 08:16 PM
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Quote:
Originally Posted by BlondiePB View Post
Ever see how fast these elders move for something that's free, especially food?
**A: it can't be fast food though.
  #8  
Old 11-03-2008, 07:07 AM
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Yes I have supplied two time of the essense letters and the seller has ignored/rejected both.

I don't know what else to do. He will not get out (claims he can't find a place to live, but he has seen 6-10 different rental apartments within his budget) and he doens't want to pay for all the fees i have paid. ( coop costs, mortgage costs, lawyer costs) If he didn't want to sell i wouldn't have signed a contract, but he can't lead someone on under the pretense of selling and then just refuse to. I am down $2200 not to mention my 10% downpayment is still in escrow.

can i evict him quickly in a court?
  #9  
Old 11-03-2008, 10:46 AM
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You can't evict him as you are not his landlord. You may be able to get some sort of resolution by instituting a lawsuit for a return of your money, but that's dependent on the paperwork you've already signed. I suppose you can try small claims for it considering the dollar amount, but it's a bit sophisticated for that venue and you might get some weird results.

Incidentally, sending a time of the essence letter doesn't count. If it's not in the contract, it's not a requirement. (Are you using the standard Blumberg 'Sale of Cooperative Apartment' form?)
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Then start crying uncontrollably. If that doesn't work, fill your pants with shaving cream and start screaming about the voices in your head. Maybe they'll feel bad enough about your other problems and let you out of the ticket.
  #10  
Old 11-03-2008, 11:45 AM
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Yea contract is pretty vanilla, i have read over it a few times and there doesn't seem to be any special clauses. A big lesson learned there....I think i might be able to get the seller to agree to cancel the deal and return my money put into escrow...but i have about 2k in misc costs ( as stated above) that i am probably not going to get back.

Can you think of any way i can sue him for these charges, i mean if i get a litigation lawyer and go to court over 2k...my lawyer fees could be over 10k.

I have thought about bringing him to small claims court, but everyone thinks that if i want the contract broken even though the guy won't move it, i will giving my rights to sue him in small claims court.

What do you guys think?
  #11  
Old 11-03-2008, 11:57 AM
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Quote:
Originally Posted by hendricksm View Post
Yea contract is pretty vanilla, i have read over it a few times and there doesn't seem to be any special clauses. A big lesson learned there....I think i might be able to get the seller to agree to cancel the deal and return my money put into escrow...but i have about 2k in misc costs ( as stated above) that i am probably not going to get back.

Can you think of any way i can sue him for these charges, i mean if i get a litigation lawyer and go to court over 2k...my lawyer fees could be over 10k.

I have thought about bringing him to small claims court, but everyone thinks that if i want the contract broken even though the guy won't move it, i will giving my rights to sue him in small claims court.

What do you guys think?


**A: please detail your $2k in costs.
  #12  
Old 11-03-2008, 12:25 PM
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$768 coop application and administrative fees

$175 - Coop management company lawyer fee ( not sure what for but had to pay)

$125 - credit checks

$450 - mortgage costs

Total about $1500

Plus- whatever i have to pay my lawyer for NOT closing... He is going to want some compensation... orignally agreed to about 1000 for closing, but hopefully he will be fair and take less because we are not closing
Last edited by hendricksm; 11-03-2008 at 12:32 PM.
  #13  
Old 11-03-2008, 12:52 PM
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Quote:
Originally Posted by hendricksm View Post
$768 coop application and administrative fees

$175 - Coop management company lawyer fee ( not sure what for but had to pay)

$125 - credit checks

$450 - mortgage costs

Total about $1500

Plus- whatever i have to pay my lawyer for NOT closing... He is going to want some compensation... orignally agreed to about 1000 for closing, but hopefully he will be fair and take less because we are not closing
**A: the fees may be recoverable if you win a case that the Seller defaulted. Otherwise you pay as the costs are all typical Buyer related costs relative to buying a coop.
Last edited by HomeGuru; 11-03-2008 at 02:44 PM.
  #14  
Old 11-03-2008, 01:24 PM
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so how do i prove he defaulted?

It doesn't make sense to hire a lawyer and go to court if i can't force the seller to pay my lawyer fees right?
  #15  
Old 11-03-2008, 02:26 PM
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You can file in Small Claims without a lawyer for $20. The default would be seller failing to move out/set a closing date in a "reasonable time" (very generally, 30 days). I think there's a clause in the standard sale form about delivering possession in a timely fashion also.

I am confused about the $450 mortgage payment - if you haven't closed, why are you paying a mortgage?
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Then start crying uncontrollably. If that doesn't work, fill your pants with shaving cream and start screaming about the voices in your head. Maybe they'll feel bad enough about your other problems and let you out of the ticket.
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