closing delay - need advice!!!

Just to add, now I have to look for a temporary apartment to move in to that can offer me a shorter lease or that will give me the option to break it. This is very frustrating because now I'm going to end up paying twice to move, etc.

Maybe you should ask them to cover your moving expenses.

Do you have an attorney?

I agree with Consigliere. You should consult your attorney first. Many developers include provisisons in the contract of sale to protect themselves in the event the temp COO is late. Does your contract have a "drop dead" date? Again, please consult your attorney.

Your attorney can advise you on your contractual and legal rights. And of course, your attorney may have some advice about what you are likely to get (or not get) if you asked for a concession that's not defined in the contract (e.g. if you threatened to cancel but said you'd be appeased if they would _________).

It is not likely anything you can do will actually speed the process, unless there's some unusual situation.

You may be able to learn more about what's holding up the TCO -- either by asking the developer, visiting the site to chat with workers, or perhaps from looking at the building's records in BISWeb (the DOB database). That can give you a sense of whether it seems close to resolution or you simply have no hope of closing next month (or anytime soon?).

Final note - the DOB is "responsible" to provide the TCO but it's primarily the developer that is responsible for passing all the inspections and completing the supporting paperwork to request and obtain the TCO. The Buildings Dept is sometimes very slow to process things, but the issue is more likely on the developer end.

Are you scared to call your attorney because you may incur a fee? I guess it is better to avoid a fee then be homeless.

Are you related to the person who would let their children live in an unhealthy apartments (fumes and construction debris) as long as there was a reduction in rent?

You might want to find out where the TCO stands: is the building awaiting a first inspection? did it have an inspection and fail parts of it? If so, what repairs are needed before re-inspection? Are they scheduled?

Your agent should be able to help out with this. As Uptown Joe points out, it's the developer's responsibility to deliver the TCO, but your agent should be pressuring the developer to do whatever X or Y moves the ball forward.

ali r.
DG Neary Realty

Call. Your. Lawyer!

Well my contract says closing on or around April but I think the "drop dead" date is December 2013 which is what is filed amended with the offering plan. I just spoke to my lawyer and he said there's nothing I can do on my end to speed up the process and agent is not obligated to compensate me in any way. He said new developments usually do have longer closing time. He also said that I can try to convince the agent but they have a right to refuse my request for compensation. I've looked at the DOB site and to be honest I don't really know what I'm looking at. There are a bunch of different things there dating from who knows what to 2013 on the same address.

For example, if I click All Outstanding Requirements, I see a bunch of items there dated from 2006 even though the building was constructed in 2009. I also see that a TCO was issued in 2010...then 2013 - no TCO!

I also want to make sure my agent is not bullshitting me about the reasons why the TCO is delayed for this long.

I think the greatest piece of advice I got from SE was about the CO. I really liked a place and went and saw it a few times. Every time I would ask about the CO and get a different answer. I realized that the agents had no clue and just say whatever pops in their heads. I kept my eye on it and they just sat. Then six months later they flipped to rentals. Doubt this will happen to you, but just to point out that the language in the contracts is always fully protective of their rights, not yours. So unless you put specific language in the contract - which it sounds like you didn't - you are likely out of luck. Sucks, but likely nothing you can do.

What does the offering plan and/or contract say? If there is no drop dead date, then you're completely SOL here. While I know nothing about your situation, it's clear that you are on this board because you did not specifically negotiate any penalties if they delivered late...and if you tried, pretty sure they would have told you to stick it. Unfortunately, that is part of the nature of buying in a new construction. Is it a major NYC developer you're dealing with that has some real sway at the DOB? The answer to that question will likely make a difference in your odds here as well.

I would talk to your current landlord and she if s/he will allow you to go month to month with a reasonable rent increase. Even if you are paying more it will probably be cheaper than looking for temporary housing, probably having to put things in storage and two moves. Not to mention much less hassle.