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Sell built ins

Started by bds
about 15 years ago
Posts: 187
Member since: Jan 2009
Discussion about
After agreed price on coop, seller is now asking buyer to PURCHASE built-ins...did anyone ever hear of such a crazy thing..pretty soon the buyer will be asked to pay extra for the toilets!
Response by NWT
about 15 years ago
Posts: 6643
Member since: Sep 2008

No. After you walk, please post the listing.

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Response by raddoc
about 15 years ago
Posts: 166
Member since: Jun 2008

If the contract has been signed forget whatever they are asking for. If not signed, tell them to subtract the cost of replacing the built-ins from the selling price . Maybe the owners have neglected to actually consider the price of removal, wall/floor restoration and WTF they will do with a pile of wood that only fits into one place on earth.

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Response by kylewest
about 15 years ago
Posts: 4455
Member since: Aug 2007

If you are speaking of true built-ins, do not budge on this. It is unheard of.

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Response by alanhart
about 15 years ago
Posts: 12397
Member since: Feb 2007

Don't forget to buy the windows from the seller.

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Response by bramstar
about 15 years ago
Posts: 1909
Member since: May 2008

Wow. Just wow. And I thought it was bad when my subtenant wanted me to 'purchase' the shoddy built-in shelves and murphy bed they'd installed in my once-pristine co-op studio... I told them to get their crap the hell OUT. Da noive!

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Response by lucillebluth
about 15 years ago
Posts: 2631
Member since: May 2010

buyer could come back insisting on removal of built ins as now a condition of moving forward. those cancel eachother out and deal goes on. weird.

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Response by front_porch
about 15 years ago
Posts: 5325
Member since: Mar 2008

not at all unusual to argue about something like this towards the end of the negotiation. Try to keep in perspective that this is the last mile.

ali r.
DG Neary Realty

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Response by bramstar
about 15 years ago
Posts: 1909
Member since: May 2008

Ali--I understand negotiating over non-attached items but built-ins?? Seriously?? That seems crazy and sounds like seller cold feet to me.

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Response by huntersburg
about 15 years ago
Posts: 11329
Member since: Nov 2010

Do they want $10K for their plasma TV too because thats what it cost when it first came to market?

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Response by kylewest
about 15 years ago
Posts: 4455
Member since: Aug 2007

Ali, it may not be "unusual" for a seller to throw something like this into the negotiations (I think it is unusual, but you have more experience), but it is greedy, petty and offensive in that no buyer should agree to this and it is just delaying the deal from getting done--it is so absurd that I as a buyer would tell my broker to get this worked out because I mean 100% that if it is ever raised with me again during the deal I would walk away. Period. Next issue. What a stupid way to go about making a deal to sell one's apartment.

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Response by NWT
about 15 years ago
Posts: 6643
Member since: Sep 2008

That's what I was thinking. Either the seller thinks you're a sap, or is just trying it on for the hell of it. Either way, it doesn't bode well for the rest of the transaction.

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Response by romary
about 15 years ago
Posts: 443
Member since: Aug 2008

Dbag hall of fame contender. concur, kyle.

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Response by front_porch
about 15 years ago
Posts: 5325
Member since: Mar 2008

"greedy" "petty" "offensive" and "crazy" all come up a lot more often than you'd think. Sometimes there's a base psychology of "if the counterparty met my price, I must not have asked enough." Sometimes there's a couple selling, and one is sensible, and the other is determined to bee-sting the deal to death, whether to get at the counterparty or the other half of the couple, it's never quite clear. Regardless, it's not really about whether the last point conforms with common convention or not (I think we all agree here that by common convention, built-ins go with an apartment). It's about who takes the crumbs off the knife that is slicing the pie.

And the first, most important point to remember is that this is really ultimately about the pie split, not about the crumbs.

The secondary point to remember is that I'm writing this to share with the streeteasy community, and so I would prefer that Brick Underground not repurpose my remarks without attribution. It's starting to happen a little too often.

ali r.
DG Neary Realty

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Response by huntersburg
about 15 years ago
Posts: 11329
Member since: Nov 2010

>so I would prefer that Brick Underground not repurpose my remarks without attribution.

That's better than being a developer who has nasty things said about it by a Brick Underground paid contributor on a non-Brick Underground real estate site, without disclosure about the paid contributor's or Brick Underground's interests in receiving ad dollars from developers.

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Response by huntersburg
about 15 years ago
Posts: 11329
Member since: Nov 2010
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Response by Truth
about 15 years ago
Posts: 5641
Member since: Dec 2009

huntersburg: Right on!

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Response by romary
about 15 years ago
Posts: 443
Member since: Aug 2008

baked goods analogy aside, the arzhat seller has to win, even if he/she ends up tanking the deal. all about winning, getting hand, thinking they are being all suavey (not savvy) in this transaction. they are built ins, erego they stay, just like your kitchen cabinets...an idea, strip the place like its a foreclosed home and put it on the market.

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Response by realtime
about 15 years ago
Posts: 108
Member since: Feb 2011

perhaps there is a better approach. You should suggest to the seller that the purchase price will be reduced by the value of the built in and that you will pay the difference as a cash price for used furniture. In our first coop many years ago, we purchase the built in LR sofa from the seller after adjusting the price. of course we could not include it in the cost of the apartment when we sold the place so the disadvantage to the buyer is that it reduces the base for appreciation or you pay the capital tax on the difference.

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Response by Wbottom
about 15 years ago
Posts: 2142
Member since: May 2010

troosh doosh--youve made a friend---finally---someone of comparable value for you to hang with---heartwarming

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Response by aboutready
about 15 years ago
Posts: 16354
Member since: Oct 2007

has a similar grasp of logic, and a similar disregard for decency. like you said, wbottom, heartwarming!

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Response by Wbottom
about 15 years ago
Posts: 2142
Member since: May 2010

built in cabinetry is always included as part of the apt, unless specified in the contract that it be removed, whether by desire of buyer or seller---any negotiations on price always assume inclusion--to try to add to an agredd upon price for builtins after the fact is a seriously lame cheeseball move

if the sellers want to remove it, and you dont yet have a signed contract, adjust price accordingly; and fret not that they may have another buyer--if there was one they'd have already moved on to deal with them--give em 36 hours to sign a reasonable contract

with cheeseballs like your seller, i suggest you give em 36 hours to sign a reasonable contract--if they're playing games over the builtins, who knows whwat they will produce between now and closing

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Response by tina24hour
about 15 years ago
Posts: 720
Member since: Jun 2008

One other possibility is that the seller did not realize the built-ins would convey with the apartment. It's possible the listing agent never discussed this matter, because (as we all agree) it's conventional wisdom. It's also the law. But the sellers may be ignorant of that law, and surprised when it comes up in negotiations. Feel free to ask the agent why this is coming up now - there may be a logical explanation, aside from greed and craziness, that helps you keep it in perspective.

Because, as Ali rightly points out, these are the crumbs of the deal. Stay focused on the larger picture. The law is on your side, and your attorneys should work hard to straighten this out. But you don't need to take a stand and walk away on principle. This wave should break in your favor if you are patient. Remember - you are paying your attorney to handle the matters of law, which this is. Supervise the members of your team, but you don't have to do their jobs for them.

Tina Fallon
Realty Collective, LLC

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Response by kylewest
about 15 years ago
Posts: 4455
Member since: Aug 2007

tina: the built-in issue is horse crap and the seller's broker should have nipped it in the bud. As a buyer I would not be patient or impatient. I'd tell my agent I refuse to discuss it even for a moment and that my agent could (1) either make it go away, or (2) find me another property. I am not a rash person, but I will not suffer fools for no reason. Here, there is no reason. No sane seller will let a sale of his apt unravel over this, and if the deal does unravel over this then the seller is insane in which case the deal was going to fall apart anyway. No one apartment is that important to a buyer--there's always others. But for this seller, there will unlikely be a buyer willing to put up with this nonsense.

Stupid selling strategy. Stupid. Stupid. Stupid. Maybe they sould charge for the floors they put in, too. Or the custom closets. What role and professional expertise are the brokers in this deal actually offering?! The fact that this issue even made it to the buyer is pathetic. If all the agents do is relay messages, that hardly seems a service one couldn't live without.

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Response by romary
about 15 years ago
Posts: 443
Member since: Aug 2008

motherofgawd, ya'll are joking, right? Team Kyle.

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Response by lucillebluth
about 15 years ago
Posts: 2631
Member since: May 2010

bds peaced out without much details. it doesn't sound like a contract has been signed, and they are still in the haggling stage.

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Response by bob_d
about 15 years ago
Posts: 264
Member since: May 2010

Built-ins are part of the apartment. A seller removing built-ins that the buyer wants is a seller who's just being spiteful.

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