coop board rejected me for lying on the recommendation letter. Can I still get my deposit back?

Asked by Danny, Brooklyn, OH Fri Feb 6, 2009

I recently got rejected by the coop board for lying to them that one of my friend wrote the recommendation letter. Truth is I did wrote that and signed by me, and didn't know my friend would totally against this too. My question is yes I am wrong for being so dump and careless about it, can the coo board or the seller keep my deposit?

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6
Rhonda Holt, Agent, New York, NY
Wed Feb 18, 2009
Hello, I specialize in co-ops and co-op boards do have the right to reject you for this reason and for much anything else and they do no have to tell you why they reject you either. The board has control to reject you if they want. Also, the co-op board usually states in their application that the fee is non-refundable no matter what the outcome.

I hope I answered your question.

Rhonda Holt
Licensed Agent - Specializing in Co-op & Home Sales
Awarded 1st Place in Sales for 2008 and 2009
Weichert Realtors, H.P Greenfield
Web Reference:  http://www.KandHhomes.com
0 votes
Anthony T.Cr…, , 11217
Mon Feb 9, 2009
Hello Danny,

Well one thing is for sure, you will never do that again going forward. When you say deposit are you referring to board fees (which are typically non-refundable)or contract deposit which unless stated in in the contract should typically be refundable if you are turned down by the coop board. Your attorney should never have let you go into a contract that states that the contract deposit is non refundable.If you need a good real estate attorney I can recommend a few. Good Luck!
0 votes
Jolie Muss, , Upper West Side, New York, NY
Sun Feb 8, 2009
Danny,
Are you in Brooklyn, New York or Brooklyn, Ohio?
In New York State you need an attorney to go to contract.
It's always better to tell the truth!
0 votes
Bill Eckler, Agent, Venice, FL
Fri Feb 6, 2009
Danny,

Check your documents.....the destiny of an unsuccessful application should be clearly stated.
If in doubt, contact an attorney for their advice.....then that could cost you more than the refund or add yet more to a bad investment.

Good luck
0 votes
Dp2, , Virginia
Fri Feb 6, 2009
You probably should hire an attorney to review your contract (and any addenda and exhibits); nevertheless, you'll most likely end up forfeiting your deposit if you didn't add a clause to your contract or addendum to protect your deposit, before you signed that contract.
0 votes
Pascual Paul…, Agent, Bronx, NY
Fri Feb 6, 2009
Co-op Depoits are generally none refundable.
Web Reference:  http://PaulMVPteam.com
0 votes
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