Legal Question in Real Estate Law in New York

UCC1 & UCC 3 Financial Statements

I am purchasing a ''new'' Co-op Apartment in NYC from a Developer, the Closing is being held up because the Developer (Seller) cannot provide a UCC3. My attorney, as well as, the Developer keep ''suggesting'' that I seek a mortgage from their preferred lenders. This I refuse to do because those lenders don't come close to matching the rate I was given by my lender. Can you please explain why this is happening and is there a solution to this problem? Thank You.


Asked on 9/17/07, 10:58 am

1 Answer from Attorneys
Johm Smith tom's

Re: UCC1 & UCC 3 Financial Statements

I assume your lawyer has told you why this is happening; so you should have told us what he/she told you so we could see if we agree or not. You have an attorney; so ask them. If you don't trust them then pay me to talk to them and find out if you should be trusting them.

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Answered on 9/18/07, 12:31 am


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