Getting out of Condo Contract advice?

anonymous

We are one of the suckers.
We went into contract on a new construction condo a year ago--the building looked completely done but the developer (with a bad rep in Park Slope we now realize) never got a CO and, just got the TCO this week. We will not close on a TCO.

He has had tons of DOB problems--another building he built next door has had a TCO for 9 months and no CO--plus leaking walls, and other serious construction problems.

We don't want to move in and pay this kind of money for a shoddy place.

And they won't let us out of the contract and are holding 65K of our money--indefinitely.

Any advice on agencies? Or procedures? Or lawyers?

anonymous

Subject: condo

That's big money, get a lawyer.
Seamus J. Wilson

escap

Check out Set Speed's blog. He had a similar situation with the Washington Condos.

http://ltjbukem.blogspot.com/

armchair_warrior

call a lawyer. my friends mom is a lawyer. her number is 718 491 6006

ana.log

You didn't have an attorney prepare/review the contract for you? A good atty would write conditions in the contract around things like this, and that would enable you to get out of the contract if the conditions were not met. Otherwise, you are contractually bound to complete the sale. Definitely contact a good RE atty. I use Fern Schwaber, 212-643-9140. She has always done good by me.

rippedoff

Subject: getting out of condo

Check to see if your contract has MANDATORY BINDING ARBITRATION.
Please go to this website www.hobb.org -homeowner's for better building.
Janet Ahmad is president of hobb and has helped so many people in this problem. Hobb is a grassroots organization and does not cost anything.You can email her at [email protected] or you can pm me for her #.
Hobb also works in a coalition with the top consumer groups in Texas. Janet helps people all over the country.
I empathize with you as I am a victim of shoddy construction in Houston and thought I did all the right things. Checking the BBB really means nothing as I have found out. IMO it seems like it is more important for this burea to keep their good customers then getting help for scammed people.
Hobb has a wealth of information on it. Before you jump into anything know what you are doing, what rights you have and do not have.