The Price is High: When Real Estate Closings Turn Ugly

It’s been years since we’ve read a more enjoyable story in the Times’ real estate section than this weekend’s “Bang! You’re Closed” article about how final closings on house or condo sales can turn into a battleground. The piece is a collection of anecdotes from brokers about how things can turn very, very sour between buyers and sellers when it’s time for all parties to sign on the dotted line in a lawyer’s office. The whole story is great, but this vignette is our favorite:

John Wagner, a partner with his brother, Steven, of Wagner Davis, likes to tell the story of a closing at which he represented the seller. He can’t remember the location of the building or the sale price. He does, however, remember what happened when all the parties were gathered around a conference table in an office on West 57th Street. “The buyer walked in, pulled a revolver out of a holster he was wearing, and placed it carefully on the table,” Mr. Wagner said. “Everyone’s stunned — they just stare at it. No one says a word. Then the man asked, ‘Does anyone want to negotiate any of my terms?’ Needless to say, the closing proceeded without a peep from anyone. “I hadn’t been aware of any particular acrimony,” he said. “But that’s not to say that it didn’t exist.”

Of course the article is Manhattan-centric, but do any readers have similar tales about tempestuous closings in Brooklyn?
Bang! You’re Closed [NY Times]
Photo by Darkumber