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When Coop & Condo Deals Go Bad: Effective Tools to Overcome 2013's Trickiest Road Blocks


July 10, 2013, 6-8:30 pm

New York, New Jersey & California Credit: 2.0 professional practice & 0.5 skills
This live program provides transitional/non-transitional credit to all attorneys.
Illinois Credit: 2.25 general MCLE credits
Pennsylvania Credit:2.0 general MCLE credits.

Members: $225.00 Nonmembers: $335.00

Download Program Agenda & Faculty. Download Registration Form
New York City Bar
42 West 44th St
New York, NY 10036

 

Every real estate market is unique, and a residential deal may sour in New York for a completely different reason than a deal might do so in another part of the country. Much of the inventory for sale in New York City, for example, is comprised of cooperative units which bring with them a particularly unique set of requirements. This program will explore and analyze the varying complexities with both coop and condo deals that may cause a closing to be delayed or to not even occur. These include such issues currently vexing owners, lenders, buyers, brokers, appraisers and title companies as: Bidding wars, low inventory levels and anxious boards of managers; Finding balance among delivery dates, mortgage contingencies, rate locks and default clauses; Purchase, financing and combination of adjacent units; Challenging underwriting guidelines resulting from changes in the Real Estate; Settlement Procedures Act and revised Fannie Mae requirements; Obtaining title insurance from a source with adequate assets in a distressed title environment; and Reviews of current actual claims files and litigation discussing real property law and title insurance coverage issues.
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