HDFC purchase being stalled
Started by ShanShanS
over 17 years ago
Posts: 1
Member since: Jan 2009
Discussion about
About 8 weeks ago, I placed a bid for full asking price on an HDFC apartment, and it was accepted via email by the managing agent of the building. I immediately submitted the extensive application and fees. Because the apartment is owned by the HDFC itself, they won’t go to contract until after they review my application and interview me—which I was told (again, in writing by the managing agent)... [more]
About 8 weeks ago, I placed a bid for full asking price on an HDFC apartment, and it was accepted via email by the managing agent of the building. I immediately submitted the extensive application and fees. Because the apartment is owned by the HDFC itself, they won’t go to contract until after they review my application and interview me—which I was told (again, in writing by the managing agent) would happen within 3 weeks. Now, 8 weeks later, the managing agent won’t even return my occasional call or email. On the rare occasion I get hold of her, I’m told that “she works for the board and doesn’t have to explain anything to me about their timing.” The building itself gets 100% of the selling price, so the board has no stake in delaying this to the point that we have to re-sign our current lease and therefore withdraw our bid. It’s the last and the best apartment in the building, so I'm getting suspicious about the whole thing. Are there any steps at all that we can take here? We’ve pretty much given up on getting the apartment, but I’m not happy with the shoddy behavior of the managing agent, who does not seem to be representing the interests of either us (the buyer) or the board (who will lose the sales income). She’s a licensed real estate agent, as is required for HDFC managing agents. [less]
I would send a registered letter stating that you're withdrawing your application due to reasons cited above or have your lawyer send one, if you have one involved at this point. I would also report the agent for the reasons cited above. Once you request the return of the fees you should get some traction or answers. If you know the coop lawyer you could also try contacting him/her.