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Sorry to bother you all. But I really need some help.
It was stupid of me when I did not hire an agent when buying a co-op in Queens. I trusted her so much that I even used her recommended lawyer. After reviewing everything, we both signed the contract on March 12th and the contract came out on March 15th. Then I waited around 2 weeks before receiving the board application form. I looked at the package and found out that HOA will increase 30% (formal notice) in April 2024 (this coming month). It stated on March 14th (1 day before the contract was made). I do believe that they hide something (they probably knew it earlier).
My question is, would it possible for me to back out the contract with my earnest deposit as the seller refused to withdraw. What can I do? Should I hire a new lawyer and file a lawsuit? Thank you very much.
If you don’t qualify for a loan from a lender usually the contract is cancellable depending on your contract. But you need to follow strict rules you can’t just say o sorry didn’t get approved for my mortgage. Maybe it won’t appraise ? You need a real estate attorney if you want to even try and get out of this.
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