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All Forum Posts by: Delicia M.

Delicia M. has started 14 posts and replied 60 times.

Post: Buyer Default on Contract Day of Closing.Can I Keep Down Pymt without Going to Court?

Delicia M.Posted
  • Rental Property Investor
  • NYC and South Carolina
  • Posts 60
  • Votes 29

@Mohammed Rahman everyone’s advise has been consistent. That’s what I needed because I was seriously questioning my attorneys advise. The 2 family property is located in Queens, NY.

Post: Buyer Default on Contract Day of Closing.Can I Keep Down Pymt without Going to Court?

Delicia M.Posted
  • Rental Property Investor
  • NYC and South Carolina
  • Posts 60
  • Votes 29

@Wayne Brooks no earnest money, just $50K down payment payable to Escrowee upon signing the contract.

Post: Buyer Default on Contract Day of Closing.Can I Keep Down Pymt without Going to Court?

Delicia M.Posted
  • Rental Property Investor
  • NYC and South Carolina
  • Posts 60
  • Votes 29

@Chris Seveney, I sent an email to my attorney and ask that he start high ($25K+) and let them negotiate down. Thank you. @Russell Brazil, my contract says "If Purchaser* defaults hereunder,
Seller’s sole remedy shall be to receive and retain the Downpayment as liquidated damages, it being agreed that Seller’s damages in case of Purchaser’s *default might be impossible to ascertain and that the Downpayment constitutes a fair and reasonable amount of damages under the circumstances and is not a penalty."  Although my attorney has advised that the purchaser don't want to lose all their deposit and any deposit less than $50K is not worth it, I feel that I'm still entitled to it and they should take me to court to prove otherwise. 

Post: Buyer Default on Contract Day of Closing.Can I Keep Down Pymt without Going to Court?

Delicia M.Posted
  • Rental Property Investor
  • NYC and South Carolina
  • Posts 60
  • Votes 29

@Melissa Hartvigsen I’m frustrated but, I think you’re right. I also think I can re-list for a slightly higher amount. I’ll lick my wounds and move on. Thank you.

Post: Buyer Default on Contract Day of Closing.Can I Keep Down Pymt without Going to Court?

Delicia M.Posted
  • Rental Property Investor
  • NYC and South Carolina
  • Posts 60
  • Votes 29

On the day of closing, the buyer decided they want to back out of the contract for no substantiated reason.  The buyer wants their $50K downpayment back. My attorney is advising that I take $10K out of the $50K down payment then re-list the house. I'm pissed. I feel like I should be able to keep all the downpayment. My attorney says we would probably need to go to court which could take years and a lot of money. I've never sold a house before. Please advise. Should I take the $10K or fight it in court?

Post: EVICT ERAP Applicant to Move in Immediate Family

Delicia M.Posted
  • Rental Property Investor
  • NYC and South Carolina
  • Posts 60
  • Votes 29

@Phillip Austin thanks for your response. My attorney is filing an holdover affidavit that states “The Petitioner seeks to waive arrears which would be issued by Emergency Rental Assistance program (“ERAP”) in consideration for the ERAP stay to be vacated, and would prefer to proceed on the instant matter instead of accepting ERAP payment.” I hope it works.

Post: EVICT ERAP Applicant to Move in Immediate Family

Delicia M.Posted
  • Rental Property Investor
  • NYC and South Carolina
  • Posts 60
  • Votes 29

@Nathan Gesner thanks for your reply. I have an attorney that handles everything. Just seeking feedback in the forum.

Post: NY ERAP Program application issues

Delicia M.Posted
  • Rental Property Investor
  • NYC and South Carolina
  • Posts 60
  • Votes 29

I also submitted all documents after learning a tenant applied for ERAP... nothing! Radio silence. The tenant moved out almost a year later. I received nothing.  Now I'm dealing with another tenant who has applied for ERAP.  We're in the middle of a holdover case. I want them to move out so I can move in my adult children. Has anyone successfully evicted an ERAP applicant to move in immediate family as a primary residence?

Post: EVICT ERAP Applicant to Move in Immediate Family

Delicia M.Posted
  • Rental Property Investor
  • NYC and South Carolina
  • Posts 60
  • Votes 29

I have NYC tenants in a 2-fam that stop paying rent May 2022. In September, I filed a holdover case to evict. We’ve had 2 court dates. The next court date will be Feb 2023. They recently applied for ERAP. I don't want to participated in ERAP. I intend to move my immediate family into the unit.

Has anyone successfully evicted a tenant with an ERAP application for the purpose of moving in immediate family?

Post: Cash Out Refinance Obtions after Forbearance

Delicia M.Posted
  • Rental Property Investor
  • NYC and South Carolina
  • Posts 60
  • Votes 29

@Bruce C. Thanks for responding. I will ask my back if their rules have changed.