I bought a property in August at a land auction in NYC. They require you to sign the contract at that time. After "winning" a parcel I received the title papers and mortgage by mail 2 days later. They were so fast. I noticed the property description with my mortgage did not match the map they provided for the auction (different frontage dimensions). When I called the town hall to inquire about the correct dimensions, they told me the dimensions I was given do not match the property I "won" in the auction but the neighboring property. N.R.L.L. East had sold the neighboring property at a previous auction.
When I notified N.R.L.L. East of the issue, they refused to cancel my contract. The contract allows them to take years to clear up title. The contract indicated they usually close within 180 days.
In the past 4 months, I have sent 3 requests for cancellation. I have spoken with 3 people at N.R.L.L. East who have told me I should be getting a refund. 3 others have refused to return my calls and 2 others who could not commit to anything indicating they had no authority to do anything.
I have left numerous phone calls to the legal department. The first person I was told to speak with still has yet to return my calls after 2 months and 4 calls per week since early October attempts. The other person I had contacted in the legal department agreed that the title was not marketable and they would send me a cancellation contract via e-mail. 3 weeks later, I have still received nothing. My 8 or 9 phone calls for the past 2 weeks have not been answered or returned.
When they can't provide clear title they will hold onto your money for as long as they can use it. Their contract gives them all the power and leaves you with no recourses but to wait for them to feel like letting you out of a contract they cannot perform. Meanwhile I am paying interest on something I do not own. I never signed title or a mortgage, however, the took my deposit of about 33% of the total purchase price.
Mayabe this week I will get the cancellation agreement.
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