Legal Question in Real Estate Law in New York

Re: Problem selling a CO-OP appartment

A real estate broker is not qualified to offer an appraisal. They give market analysis...that is not an appraisal. If the person does that to screw your deal as a broker, make a complaint to the NYS Secretary of State that governs real etsate agents and let them lknow that you will make a complaint.

Good Luck

Re: Problem selling a CO-OP appartment

Generally, the managing agent should not be speaking, or directly dealing, with a prospective buyer about anything concerning the premises being considered, if there is broker, lawyer or resident Seller involved.

However, it is not "illegal" nor the basis for a "cause of action," or a complaint, for the agent to "speak truthfully" about the condition or status of the premises; unless the agent sought out the prospective buyer; and/or the agent's "intent" was to kill the deal.

Good luck,

Phroska L. McAlister,ESq

Re: Problem selling a CO-OP appartment

Since she is the Broker and managing agent , she has knowledge of what things have sold for in the complex. Either she has saved the buyer/seller alot of wasted time or was trying to quash the sale.If it doesn't appraise, the bank wont finance.