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August 28, 2009
Assignment of contract for sale
We have an accepted offer to purchase a brownstone. However, the owner of the building has contracted to sell the building to a third party, and that third party has marketed the deal to us, agreed an offer price (higher than where they will buy from the owner), and is assigning that contract to us. The middleman is now trying to shop our deal for a higher offer. We are interested in working directly with the owner, but, it appears that the owner is legally locked into dealing only with the middleman, even though they have not closed yet, because they have signed a contract with the middleman. Any suggestions on how to proceed or knowledge of whether this is legal?
Comments
I don't understand this. Sounds like a scam. Consult an independent attorney or just walk away and buy something else.
Posted by: mopar at August 28, 2009 10:07 PM
It is a scam mopar - a hasedum found an unsuspecting old woman in crown heights that doesnt know the market, is offering her 100% for a house worth 130% and is trying to flip it for 110% without ever even taking the risk of owning it. We have a great attorney working it for us, and that has protected us, but we still havent been able to crack through and now the hasedum is breaking our deal to try to get a higher price...
Posted by: iwannabrownstone at August 28, 2009 11:20 PM
It's spelled Hasidim.
Posted by: BrooklynIsHome at August 28, 2009 11:51 PM
This guy may be a scammer, but flipping a contract is not unusual or illegal. If his contract is sound,the original owner competent and no fraud was used, he is in control and will no doubt shop it around for the highest price. Unless the owner wants to challenge the agreement he is the seller.What does your lawyer say?
Posted by: edifice rex at August 28, 2009 11:59 PM
An accepted offer is not the same as a contract. Therefore, you don't have a deal until you have a contract...
Posted by: firstmediation at August 30, 2009 7:51 AM
not to belabor the point raised by BrooklynIsHome above -
the --im ending of a word in Hebrew signifies plural.
Therefore one Hasid, two Hasidim.
Thus ends your Hebrew grammar lesson for today.
Sorry I have no useful comment to OP, just make sure you have a good lawyer because it sounds like it could be messy - even though probably totally legal.
Posted by: rickintheridge at August 30, 2009 9:26 AM
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