We saw a really great apartment and were told it was an HDFC building. The broker who showed it--and the ad in the paper--and the printed spec sheet the broker gave us--and the bid sheet we filled out--all said the income cap was 120% to 155%.
We told the broker, and filled out the bid sheet, with our 2007 income, which was just over 120% and well under 155%. Then we gave our $300 to the board for background checks, and a $1000 retainer to the lawyer.
Today the lawyer called and said that every single document they have says 120%, including the documents filed with the city in 2008. This is a building that became a co-op in April 2008 after fulfilling the "tenant interim lease" program. This is their first re-sale, and the broker said that the 155% figure came directly from the manager, who is also the co-op president. He's trying to reach her by phone with no success so far.
Is TIL even considered HDFC? I know many HDFCs have sliding scales and varying percentages, is TIL locked in to 120%? Can I take the broker/co-op board to small claims court to get back my $1300, since they accepted my bid under false pretenses (and in writing)?