Concerns re: % Sold
posted by Downtowny on June 2nd, 2009 in Buying & Selling
We are considering purchasing in a new construction building in downtown Manhattan that is less than 70% sold. We've heard (for lack of a better term) "rumors" that buildings may be getting creative in terms of the types of contracts that they will agree to in order to get people to put down a deposit (e.g. timeframe contingencies etc.).
Has anyone had any experience recently with going into contract in a new construction building in Manhattan? What sorts of contingencies were you able to negotiate?
Thanks!
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