"Brouhaha at the Brompton", Rushmore listen up
Started by bds
over 17 years ago
Posts: 187
Member since: Jan 2009
Discussion about
Wow, the article in the Real Estate section of the Times today is really interesting. On the second page. There is momentum in the city for these developers to hear the beating of the drums. Those of us in contract for these predevelopments in 2007 are "mad and are not going to take it anymore"
Nobody complains when the offering price goes up. What ever happened to looking at comps, rent versus buy analysis, asking for a mortgage contingency clause, etc
guess we read different articles. here's the one i read:
http://www.nytimes.com/2009/05/03/realestate/03deal2.html?_r=1&ref=realestate
not sure where you pulled your quote from, but clearly not from this article.
Agreeing to a bad deal is not grounds for voiding a contract. The fact they are looking for legislative remedy speaks volumes.
but...they're mad and are not going to take it anymore. perhaps a boycott at papaya king would be a good starting point.
The unfortunate buyers do not have much leg to stand on. Looks like the lawyer, Bailey, will do well receiving fees. What a shame...
thank God, at least some lawyers can get paid!