I found the fix.. for those that have lost their deposits

do tell....

oh yeah?

well i just got an email from a nigerian prince who is going to give me a large percentage of his $25 million inheritance, if i just agree to keep the money in my bank account for a little while.

and the tooth fairy is coming to town....

Found this company who is willing to buy me out of my contact.. This information was presented to me through a friend in Miami, I saw the refund check, so now I'm trying it out for myself.. Seems to good to be true. The company is looking to buy contacts in building of 150 + Units...I am dealing with Michael who works with a private investor.. Hey call him for yourself 914-774-7931

it sounds like it might be a vulture fund that is looking to buy contracts for a fraction of their peak price. If that is the case, I don't see how you will get your deposit back.

I have been dealing with him since Monday.... I also forwarded him another prospect in the building and so far we are excited ..Just can't afford a total lost

No, the word i used was a % " percentage " ... Better than nothing

"Seems to good to be true."

Don't you know the rest of the adage? Those sayings are cliches for a reason -- because they are true. Go through with it and we will probably be seeing you on a 60 Minutes episode.

Many contracts are nontransferable.

Have you met this person or anyone from their company in person? Has he asked you for any money up front?

you are being extremely cryptic with info and yet you posted her..
i almost feel like you work for the company

@ re2009 LOL

I'm going to buy an entire condo building once my $10 million arrives from Prince Bandhar of Nigeria.

How do you live with yourself, trying to scam people like this?

ahole is probably from Boston.

There actually is a legal way to pursue recovery of deposits based upon specific language in the contract. The rights and remedies vary by contract and each one has to be reviewed individually. I have used it successfully representing buyers of condominiums obtaining partial refunds of deposits. My fee is based upon a percentage of the deposit recoved and results in a termination of the contract.

corrected spelling: There actually is a legal way to pursue recovery of deposits based upon specific language in the contract. The rights and remedies vary by contract and each one has to be reviewed individually. I have used it successfully representing buyers of condominiums obtaining partial refunds of deposits. My fee is based upon a percentage of the deposit recovered and results in a termination of the contract.

and the world if flat...can you give a class to all R.E lawyers who failed their clients for the last 2 years? Since you are the only one who figured out the magic perhaps you can also make them disappear and have the business all to yourself? do they teach spelling at law school?

Ok...humans....some people on here are really, really stupid....or really, really sleazy..or both. This is pitiful.

Dear 007 and jimstreeteasy: I cannot comment on other real estate lawyers and the intelligence or lack of intelligence of others on this site. What I do know is that buyers may be entitled to recover their deposits under certain circumstances based upon contract provisions and applicable laws. The amount recovered is generally some but not all of the deposit in a negotiated settlement based upon the contract, time elapsed and the law. Statutes of limitation apply and contracts vary.

Piedfromfla,

Where did you go to law school?

Positive Carry: At a very reputable law school and have been practicing for 29 years

So then you don't mind listing your real name and firm, right? This is not the place to blow smoke. People here have nothing to do but research the hell out of you if you're lying.

i have exciting news! i can make $1500 a week, working from home mailing postcards!

"PiedfromFla" are you an attorney licensed to practice in both NY and FL, or are you acting in another capacity? Like, as a collections agency? I assume the client has to sign some sort of "exclusive" contract with you: how long do they last for/what is their term?

"Found this company who is willing to buy me out of my contact.."

This is very different from hiring a lawyer on a contingency basis.

Which is it?

Modern: I think you may be getting confused. I was commenting on the thread and have no relationship to whatever company yankees 2009 contacted.
30yrs_RE_20_in_REO: I am an attorney admitted in Florida and New York. While on this thread I am not acting in any capacity and not soliciting clients but merely adding information. There is no magic to my approach. The right to a refund of the deposit depends upon the terms of the contract, how long ago the contract was signed and applicable state and federal laws.

Love how it's a coincidence that yankees guy is going through a guy in Miami, and you have FL in your name. Have either of these clowns ever posted here before?

Still waiting on name and firm....if you have a real legit approach then reveal yourself.

"
I found a company to help me get a % of my deposit back at no cost to me whatsoever. Better than walking away from $275,000"

Is there a contest for the stupidist post on craigslist , and is this guy trying to win it? If the post is sincere, he is an idiot, and if it is some marketing scam, it is equally stupid because it's so , well, stupid.

I agree, this has to be one of the most pointless posts i have ever seen!!!
maybe yankee was drunk, or it was a dare

PiedfromFla: If you don't mind telling us, what is the mix of Sponsor/new Construction sales vs resales that you do?

30 yrs - all sponsor/new construction. Any lawyer can pursue such a recovery - again there is no magic here. Contract purchasers from sponsors who wish to terminate their contracts should check with their respective attorneys to determine if they qualify for recission under state and federal laws based upon the contract language (or lack thereof).

Unpublished number

Sounds like you have developed a "checklist" of items (based on your experience handling such cases) that you look at to see if any of them are present in the client's situation (sort of in the same way that over years of experience, transactional Coop seller's attorneys develop a rider with various clauses based on their experiences).

30 yrs - you are correct. It is a tough road to get a deposit back but under certain circumstances it can be done. There is another thread on Streeteasy that deals with this (in a case adverse to a deposit purchaser getting a refund). An interesting, well written blog that I found (I did not write it, do not know the author, and cannot comment on whether it is accurate) is http://ilsfdablog.blogspot.com. This is a developing area of the law. Many claims are based under the Interstate Land Sales Full Disclosure Act and similar State laws - but the opportunity for a refund under that statute again is limited by the terms of the contract, whether the offering was properly exempt from registration under the Interstate Land Sales Full Disclsoure Act, the time period since the contract was executed, State statutes of limitation, and other matters - including whether the deposit is still in escrow. I would encourage purchasers who wish to terminate their contracts and receive a refund of their deposits to check with their respective attorneys for an analysis based upon their contracts.