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shiv
Twinsanity!!
Member since 5/07 4747 total posts
Name:
Shiv
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why won't they sign already?
So frustrated, we found our dream home and have a buyer for our co-op. all sounds great but the co-op buyer has had the contracts and board stuff for a week and no sign yet. I know it takes some time to go through the co-op info, but everyone is waiting on this. I won't sign the house contract before the co-op cause I just don't want to deal with a mess if it happens. we could lose this home if they don't get signing! ugh, sorry had to vent.
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Posted 5/21/07 4:01 PM  |
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alnem
This is gonna be a good year!
Member since 2/06 9562 total posts
Name:
Emily
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Re: why won't they sign already?
tell your attorney to call their attorney and see what the hold up is.
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| Posted 5/21/07 4:03 PM |
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shiv
Twinsanity!!
Member since 5/07 4747 total posts
Name:
Shiv
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Re: why won't they sign already?
my lawyer has, no call back yet. I have the RE agent on them too. The buyer is a lawyer and picked a lawyer in suffolk (we're in queens), so I think he just hasn't gone out there yet. He's taking his time. I don't think they realize everyone is waiting on them to sign. I wish I could just speak to them sometimes, i hate going through 3 people to get a message accross, hehe.
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| Posted 5/21/07 4:13 PM |
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kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
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Re: why won't they sign already?
I would def. have your lawyer keep calling and explaining that you are waiting to purchase your new home.
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| Posted 5/21/07 4:14 PM |
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shiv
Twinsanity!!
Member since 5/07 4747 total posts
Name:
Shiv
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Re: why won't they sign already?
ok just got update from lawyer. co-op buyer is signing wed night so we should be able to sign both on Friday!!!
I just hope nobody comes along with an amazing offer and swipes our house, hehe.
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| Posted 5/21/07 4:18 PM |
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riniko
LIF Toddler
Member since 3/06 486 total posts
Name:
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Re: why won't they sign already?
Why don't you just go ahead and make an offer on the house you like. By the time they get their act together it will be Friday anyways.
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| Posted 5/22/07 3:50 PM |
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kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
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Re: why won't they sign already?
Posted by riniko
Why don't you just go ahead and make an offer on the house you like. By the time they get their act together it will be Friday anyways.
I'm too cautious. I wouldn't make an offer, until your co-op contracts are signed.
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| Posted 5/22/07 3:54 PM |
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: why won't they sign already?
Posted by riniko
Why don't you just go ahead and make an offer on the house you like. By the time they get their act together it will be Friday anyways.
I agree.. an offer isn't binding, you can always take it back if things don't work out with the co-op.
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| Posted 5/22/07 3:58 PM |
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alnem
This is gonna be a good year!
Member since 2/06 9562 total posts
Name:
Emily
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Re: why won't they sign already?
i think she already has an offer accepted on the new house and her atty already has those contracts to purchase. she's just waiting to sign them until her buyer signs the contracts for her co-op.
if thats the case, might i suggest you have your attorney put a "contingent upon sale" clause into your contract on the house. if your buyer doesnt get approved by the board for some reason, you dont want to lose your downpayment on the house if you cant buy it.
good luck!
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| Posted 5/22/07 4:06 PM |
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Pumpkin1
LIF Adult
Member since 12/05 3715 total posts
Name:
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Re: why won't they sign already?
Posted by alnem
if thats the case, might i suggest you have your attorney put a "contingent upon sale" clause into your contract on the house. if your buyer doesnt get approved by the board for some reason, you dont want to lose your downpayment on the house if you cant buy it.
good luck!
You can try, but such provisions are not commonplace in NY.
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| Posted 5/22/07 4:49 PM |
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shiv
Twinsanity!!
Member since 5/07 4747 total posts
Name:
Shiv
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Re: why won't they sign already?
Posted by alnem
i think she already has an offer accepted on the new house and her atty already has those contracts to purchase. she's just waiting to sign them until her buyer signs the contracts for her co-op.
if thats the case, might i suggest you have your attorney put a "contingent upon sale" clause into your contract on the house. if your buyer doesn't get approved by the board for some reason, you don't want to lose your downpayment on the house if you cant buy it.
good luck!
thanks for the reply, yes we already have the contract for the home purchase. Our buyers are just slow, we got their offer for the co-op before we made ours for the house.
As far as the contingent on sale- every single person from the minute we started looking for a house has said that no one will ever agree to this. I think it only works in desperate- buyers markets, where people will agree to anything to sell the home.
We're walking a thin line with these transactions- co-op close set for mid-july, house close set for aug. 1st. Oh, I hope it all works out, my nerves will be shot!
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| Posted 5/23/07 3:10 PM |
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