Belt Auction - I want to back out but it's too late???

I want to back out but it's too late???

I am about to go to closing in 5 days for a co-op apartment in Queens, NY. But after looking at zillow.com just now I found that recently sold co-ops (that are of comparable size) in the same building and adjacent buildings in the same community sold for roughly 30% LESS than I am paying for this one. When I was negotiating the price, I wanted to ask for lower price but the real estate agent told me that the board might not approve the sale of an apt there for such a low price--- I feel I was lied to. But after speaking to my lawyer, he told me I cannot back out now because I already signed the commitment letter with the bank. Is it possible to still try to negotiate price for this? What should i do?!?! I don't want to overpay 30% for this... What is Buyer's Remorse? The Seller's Lawyer is holding 14,000k (part of the downpayment) --- I was told awhile back that if I want to back out I may not be able to get the $14k back--is that true?

Public Comments

you lose.
Quick, find a lawyer skilled in real estate! Also never buy or sell without one in YOUR court.
Haven't closed yet? Then you most certainly can back out. There is always the "buyer's remorse" clause as well.
Is 14K less than the 30%? Something to consider.