Board's Buyer Rejections
I’m in the process of trying to sell my late father’s one-bedroom prewar apartment and run into a big roadblock. The board has rejected two well qualified buyers. One of the buyers wanted to do an all cash deal and had plenty of assets. The second was a tenured professor with a big financial cushion. Both were rejected without an interview. My broker contacted the board president to get some guidance on moving forward, to no avail. (He didn’t ask for the reason for the rejections as we know they don’t have to give one.) Our only guess is they don’t approve of the price. Indeed it’s lower than comps in the building — but not the nabe — because it’s in need of a new bathroom at the least and an updated kitchen. That said, it’s not a complete wreck. I put in about $15K to restore the floors to their original condition and had a top notch replastering and painting job done, and put in new fixtures. Anyhow, I’d like to consult a lawyer to determine next steps . Anyone have recs? Any advice also welcome. Thanks.

angelique.m.west
in General Discussion 6 years and 10 months ago
0