purchase process of a new condo

Started by mfaissal

over 16 years ago

Posts: 3

Member since: Aug 2009

Discussion about

I need your advice. The broker representing the developer and I agree on a purchase price for a condo. A contract by the developer's lawyer was sent to my lawyer. My lawyer prepared a contract "rider" (whatever that is) requesting a change in the closing date (based on my request) and a 2% of the closing to be paid by the developer. That was 2 weeks ago and I have yet to hear back from the developer's lawyer. What is taking place behind the scene? Is there anything that I should do? Is my lawyer doing the enough? How long do these transactions take to close if I am not using a buyer broker? Thanks

Response by ab_11218

over 16 years ago

Posts: 2017

Member since: May 2009

has your attorney contacted the developer's attorney to find out about the delay?

we are in August, so there are plenty of people on vacation.

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Response by shaimegiddo

over 16 years ago

Posts: 40

Member since: Jun 2009

mfaissal,
The delay has nothing to do with how many brokers are involved.
The delay might have to do with the season- many people are taking vacations now.

Also, since you asked for a change in the terms of the contract, the developer might be considering it,and waiting to see if he has other offers with better terms for them.
In any event, ask your attorney to talk to the develper's attorney to get an update on status.

purchase process of a new condo

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