If I just pruchased and co-op and the maintenance fee was misrepresented to me and is actually significantly higher per month, what are my legal options?

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If I just pruchased and co-op and the maintenance fee was misrepresented to me and is actually significantly higher per month, what are my legal options?

The managing agent of my co-op, the seller and the seller’s broker all represented the same maintenance fee. Who can I go after and what are my rights? The contract is done and I currently live in the apartment

Asked on October 29, 2012 under Real Estate Law, New York

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

If it was a knowing misrepresentation (i.e. they knew what the correct fee was), you could most likely go after the seller; you could possibly also go after the broker and the managing agent for their part in misrepresenting the costs to you. Your claim would be based in fraud, which is the knowing misrepresentation of a material, or important, fact, made to induce you to enter into a transaction. You could seek monetary compensation (e.g. money to compensate you for the higher cost) or possibly to rescind (void) the transaction. You should consult with a real estate attorney to explore your options.


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