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Sale at 159 Madison Avenue #8G

Started by NWT
almost 16 years ago
Posts: 6643
Member since: Sep 2008
Discussion about 159 Madison Avenue #8G
Fun with contracts at http://decisions.courts.state.ny.us/fcas/fcas_docs/2010APR/3001076832009002SCIV.pdf Before this $529,500 sale, sellers had gone into contract for $465,000 with another set of buyers. Buyers lost their financing, had to sue the sellers to get deposit back. Buyers won. The sellers got lucky in having the $465,000 contract fall through, but then got greedy and ended up paying through the nose.
Response by SMattingly
almost 16 years ago
Posts: 100
Member since: Oct 2007

THX for the link, NWT, but I don't think they'll pay through the nose. They had to give the first deposit back (to which they were never entitled) and pay for the attorneys' fees for the gamble out of the 'extra' profit on the second sale. Greedy low lifes, for sure, but probably still ahead a few bucks. I blogged about it today, with a hat tip in your direction. http://www.realtown.com/sandymattingly/blog/manhattan-real-estate-business/contract-litigation-goes-against-greedy-sellers Again, THX

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