yesterday i closed, finally and 24 hours later i have nothing but absolute bitterness about how it went down. long story short....the coop attorney, (the attoney representing the coop i was buying into) pretty much extorted an extra 250.00 out of me, threatening me that unless i paid the money (because the closing went on too long, it took 3 hours) they would not finalize the sale. this is after ,... [more]
yesterday i closed, finally and 24 hours later i have nothing but absolute bitterness about how it went down. long story short....the coop attorney, (the attoney representing the coop i was buying into) pretty much extorted an extra 250.00 out of me, threatening me that unless i paid the money (because the closing went on too long, it took 3 hours) they would not finalize the sale. this is after , AFTER i paid their fee.
my attorney was incredulous and the bank attorney looked at them like they were crazy.
in the end i wrote the check because wtf was i to do? i already paid so many fees and application fees to get to this point and in the last minute all of sudden their is an extra 250.00, it really is not about the money, but the principle.
i cannot believe this, i totally understand that in closing there will be so many charges and fees, but this was blatant extortion. if they told me going in that there was a time limit thats one thing, but this really made me upset and even though i have possesion, i'm still pretty heated about this.
just wanted to get some ideas what to do, i'm going to contact the NY Bar and will stop the check (hopefully) in any case. I will definitely share the name of this law practice soon.
[less]
Response by julia
over 18 years ago
Posts: 2841
Member since: Feb 2007
You rightfully are upset but your anger should be directed towards your own attorney. I'm sure you had a list from your attorney with the fees. When this additional charge came up what did your attorney say. To say your attorney was incredulous is fine but what did he do.
I agree it's better to pay and then contact the bar but your should also have as issue with your lawyer. I hope you are happy with the apartment. Thank you for sharing your experience since I'm looking for an apartment right now.
Ignored comment.
Unhide
Response by thedude
over 18 years ago
Posts: 29
Member since: Jan 2007
thanks Julia, goodluck
my attorney did have a list of charges, what happened was this additional charge was ADDED right after we closed.
they decided to just mug me for more since they knew i really wanted this apartment and they had me against the wall.
beware Sullivan & Bernstein @ 351 Broadway 3rd floor.
Ignored comment.
Unhide
Response by anonymous
over 18 years ago
Posts: 41
Member since: May 2007
sorry they did that to you #1
pretty sure they work with Tishman Speyer, if not they probably should...
match one sheister with another.
Ignored comment.
Unhide
Response by anonymous
over 18 years ago
Posts: 2841
Member since: Feb 2007
What is really terrible is they know $250 is not going to stop you from continuing the sale. Think of all the buyers they are doing this to.
Ignored comment.
Unhide
Response by anonymous
over 18 years ago
Posts: 1183
Member since: Feb 2007
Cancel that check, and have your lawyer contact the BBB, and the Bar on your behalf. It might cost you more than the $250, but it will make you feel well worth it.
Ignored comment.
Unhide
Response by anonymous
over 18 years ago
Posts: 1627
Member since: Jan 2007
I have to put the total blame on your attorney. Your attorney should of told him to go F yourself and let him know that if he decides to practice extortion at the last minute than you will file with the courts to put a lien on the property. You should of been instructed by your lawyer to shut up and not do anything and have your attorney take it from there. Your attorney sounds like a real weakling.Your not paying your lawyer to be a flower pot here and just sit idle.
Ignored comment.
Unhide
Response by anonymous
over 18 years ago
I just closed recently. At the closing, my buyer attorney had me wrote a check of $300 to the title guy as the "title closer fee" and another check of $300 to himself as "disbursement fee" for fedex the sale contract to the Seller (in addition to already paid Buyer’s attorney fee). I did’t think I should pay these “tips” to them, but I was afraid that I may damage my relationship with them or it would make me look bad if I didn’t give them the checks.
Ignored comment.
Unhide
Response by anonymous
over 18 years ago
Posts: 1905
Member since: Apr 2007
I guess all these fees go under the heading of 'As long as you're bent over .....'
Ignored comment.
Unhide
Response by anonymous
over 18 years ago
Posts: 2841
Member since: Feb 2007
#8 is completely wrong...I would have said excuse me while I call the cops because I have just been mugged!!!
Ignored comment.
Unhide
Response by anonymous
over 18 years ago
Posts: 10
Member since: Apr 2007
they are lawyers. nuff said.
Ignored comment.
Unhide
Response by anonymous
over 18 years ago
Posts: 400
Member since: Apr 2007
#8--those "tips" are customary at NY Closings.
Ignored comment.
Unhide
Response by cmtsuk
over 18 years ago
Posts: 100
Member since: Nov 2006
They're only customary because the buyer feels he/she has no option, and the lawyers pile on the pressure. It should be illegal - these lawyers and clerks are not low-paid service workers.
Ignored comment.
Unhide
Response by thedude
over 18 years ago
Posts: 29
Member since: Jan 2007
hi, op here~
i stopped the check, then thought about how pissing off a lawyer is not going to help me, so i dropped off a money order personally on monday. i spoke to the attorney, saying that now that i'm a share holder i will everything i can to make sure our building gets a new attorney. she looked at me like i had the gall to even mention something so uncouth....anyway i was polite but firm.
she took the short money, a lousy 250.00 will cost her, oh well,
her name is Gloria btw,
Ignored comment.
Unhide
Response by anonymous
over 18 years ago
Posts: 400
Member since: Apr 2007
#14--good luck. the board cronies up to pick the attornies (among other things). welcome to the wonderful world of coops.
Ignored comment.
Unhide
Response by anonymous
over 18 years ago
Posts: 65
Member since: Apr 2007
If you want to talk about fraud, I had to pay a $1,000 coop attorney fee to sell my Gramercy studio apartment 5 years ago. The coop refused to faciliate the transfer/closing unless I pay this outrageous fee to the coop attorney. My closing took 1 hour. In addition, I had to pay the Managing Agent travelling fee to the coop attorney's office. This centrally located Gramecy coop also charges ridculous coop application fee.
Ignored comment.
Unhide
Response by anonymous
over 18 years ago
Posts: 1183
Member since: Feb 2007
Was there a flip tax on top of those charges?
Ignored comment.
Unhide
Response by anonymous
over 18 years ago
Posts: 60
Member since: Apr 2007
OP, does your contract specify a time limit on the closing? My contract did, with a warning that additional fees would occur if we went over time.
Whatever the case, your attorney sucks eggs.
Ignored comment.
Unhide
Response by anonymous
over 18 years ago
Posts: 24
Member since: Nov 2006
That is bad!! I just assume all attorneys are shysters -- I used to work for them LOL!
#4 -- I've also heard really bad things about Tishman . . .
OP -- I hope you get on the board! :) Afterall, I don't think the money is going to the co-op . . . Good Luck and I hope you love your new place :)
Ignored comment.
Unhide
Response by thedude
over 18 years ago
Posts: 29
Member since: Jan 2007
op here, thanks #19, yeah i will make sure (do all i can ) the attorneys (Sullivan & Bernstein @ 351 Broadway 3rd floor--GLORIA)
does not represent the coop, and i hope if anyone reading this ever comes across these people turns the other way and RUNS.
Ignored comment.
Unhide
Response by anonymous
over 18 years ago
Posts: 259
Member since: Oct 2006
Closings suck for both the buyer and the seller and those little extra fees really add up. That being said it is not unusual for management companies or attorneys to charge an additional fee for a closing that ran as long as yours.
Try not to let the surprise additional fee steam you too much.
Ignored comment.
Unhide
Response by anonymous
over 18 years ago
Posts: 8
Member since: Apr 2007
I was told this was normal although there should be something in the contract that specifies this charge if closing goes over a certain time, and even that time frame is negotiable (for me it was 250 if over 2 hrs). Did your lawyer inquire about this during the contract process? I would think this is a pretty common way to wring a couple extra bucks.
My closing actually went over by about 1.5 hours because the coop and bank attorney argued over a signature. He didnt try to charge me though.
'/%3e%3c/g%3e%3c/svg%3e)
You rightfully are upset but your anger should be directed towards your own attorney. I'm sure you had a list from your attorney with the fees. When this additional charge came up what did your attorney say. To say your attorney was incredulous is fine but what did he do.
I agree it's better to pay and then contact the bar but your should also have as issue with your lawyer. I hope you are happy with the apartment. Thank you for sharing your experience since I'm looking for an apartment right now.
thanks Julia, goodluck
my attorney did have a list of charges, what happened was this additional charge was ADDED right after we closed.
they decided to just mug me for more since they knew i really wanted this apartment and they had me against the wall.
beware Sullivan & Bernstein @ 351 Broadway 3rd floor.
sorry they did that to you #1
pretty sure they work with Tishman Speyer, if not they probably should...
match one sheister with another.
What is really terrible is they know $250 is not going to stop you from continuing the sale. Think of all the buyers they are doing this to.
Cancel that check, and have your lawyer contact the BBB, and the Bar on your behalf. It might cost you more than the $250, but it will make you feel well worth it.
I have to put the total blame on your attorney. Your attorney should of told him to go F yourself and let him know that if he decides to practice extortion at the last minute than you will file with the courts to put a lien on the property. You should of been instructed by your lawyer to shut up and not do anything and have your attorney take it from there. Your attorney sounds like a real weakling.Your not paying your lawyer to be a flower pot here and just sit idle.
I just closed recently. At the closing, my buyer attorney had me wrote a check of $300 to the title guy as the "title closer fee" and another check of $300 to himself as "disbursement fee" for fedex the sale contract to the Seller (in addition to already paid Buyer’s attorney fee). I did’t think I should pay these “tips” to them, but I was afraid that I may damage my relationship with them or it would make me look bad if I didn’t give them the checks.
I guess all these fees go under the heading of 'As long as you're bent over .....'
#8 is completely wrong...I would have said excuse me while I call the cops because I have just been mugged!!!
they are lawyers. nuff said.
#8--those "tips" are customary at NY Closings.
They're only customary because the buyer feels he/she has no option, and the lawyers pile on the pressure. It should be illegal - these lawyers and clerks are not low-paid service workers.
hi, op here~
i stopped the check, then thought about how pissing off a lawyer is not going to help me, so i dropped off a money order personally on monday. i spoke to the attorney, saying that now that i'm a share holder i will everything i can to make sure our building gets a new attorney. she looked at me like i had the gall to even mention something so uncouth....anyway i was polite but firm.
she took the short money, a lousy 250.00 will cost her, oh well,
her name is Gloria btw,
#14--good luck. the board cronies up to pick the attornies (among other things). welcome to the wonderful world of coops.
If you want to talk about fraud, I had to pay a $1,000 coop attorney fee to sell my Gramercy studio apartment 5 years ago. The coop refused to faciliate the transfer/closing unless I pay this outrageous fee to the coop attorney. My closing took 1 hour. In addition, I had to pay the Managing Agent travelling fee to the coop attorney's office. This centrally located Gramecy coop also charges ridculous coop application fee.
Was there a flip tax on top of those charges?
OP, does your contract specify a time limit on the closing? My contract did, with a warning that additional fees would occur if we went over time.
Whatever the case, your attorney sucks eggs.
That is bad!! I just assume all attorneys are shysters -- I used to work for them LOL!
#4 -- I've also heard really bad things about Tishman . . .
OP -- I hope you get on the board! :) Afterall, I don't think the money is going to the co-op . . . Good Luck and I hope you love your new place :)
op here, thanks #19, yeah i will make sure (do all i can ) the attorneys (Sullivan & Bernstein @ 351 Broadway 3rd floor--GLORIA)
does not represent the coop, and i hope if anyone reading this ever comes across these people turns the other way and RUNS.
Closings suck for both the buyer and the seller and those little extra fees really add up. That being said it is not unusual for management companies or attorneys to charge an additional fee for a closing that ran as long as yours.
Try not to let the surprise additional fee steam you too much.
I was told this was normal although there should be something in the contract that specifies this charge if closing goes over a certain time, and even that time frame is negotiable (for me it was 250 if over 2 hrs). Did your lawyer inquire about this during the contract process? I would think this is a pretty common way to wring a couple extra bucks.
My closing actually went over by about 1.5 hours because the coop and bank attorney argued over a signature. He didnt try to charge me though.