Posted by & filed under TOPA Stories.

A man bought a condo in Brentwood many years ago. He later moved out of the city, but he wanted to keep the condo by renting it out. Years later, he wants to sell the condo, and he contacted a REALTOR® to help him with the process.

The REALTOR® was unable to get into the condo because the tenant would not respond. The REALTOR® eventually went to the condo with the property manager, after the property manager had given the requisite 24-hour notice, only to find the condo an absolute disaster.

The tenant then claimed he wanted to buy the condo, though he had not proven financially capable of doing so. The condo owner needs the money from the sale, but he cannot sell it until the TOPA deadlines have come and gone, and by the time that happens, the market might be in worse shape, costing him a great deal of money.

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A woman was renting an apartment in DC. She was interested in purchasing a one-bedroom condo, with parking, in that same building, and one came on the market. She put in an offer for several thousand dollars more than the asking price, and the owner, who was out of the country, accepted it immediately.

On the 30th day after ratification, the listing agent informed the woman that the tenants — a pair of attorneys — had made a low-ball offer on the condo. The woman tried to wait it out, as she knew the tenants were actually interested in a house, not a condo. The tenants took the full 60-day negotiating period but never came to a meeting with the owner, then they took the full 15-day period to match the offer, which they did not. They were then given 90 days to bow out of the transaction for good, and after holding out for 88 of those days, they finally bowed out.

Nearly 200 days after ratifying a contract, the woman was finally able to settle on her new home.

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A man, who was the executor of the estate on a home, was attempting to sell the home he had been left in charge of. He had allowed his daughter to stay in the home on occasion after the owner had passed away. No lease was ever signed, and there wasn’t even furniture in the home, yet the executor was forced to give TOPA notice and wait out the timeframes. The buyer of the home was disadvantaged, as they had to move out of their place of residence before the TOPA timeline had run through.

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A couple is currently renting out their one-bedroom loft out while they’re out of the city. They want to purchase a new home for their growing family, but they cannot finance the new house until they sell their condo in DC. However, the tenant is refusing to leave the condo, which is allowed under the current TOPA law, leaving the couple stranded. The couple has offered to pay for the tenant’s move to a new, identical condo in the same community, but the tenant won’t leave.

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A family was under contract to purchase a home in Brookland on a short sale. The short sale was approved and the tenant moved out of the house, but she refused to assign her TOPA rights without compensation. The sellers couldn’t pay, and the buyers were already maxed out on their purchasing budget, leaving the tenant with total control. The deal ended up voiding, creating problems for both the prospective buyers and sellers.

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An individual was attempting to sell their home, where they had allowed a friend to stay on occasion. There was no lease, no money was exchanged — it was simply a favor granted by the owner to a friend. When the friend learned they had TOPA rights, they claimed they had interest in purchasing the home, derailing the sale the owner had arranged. The owner eventually paid the friend thousands of dollars to give up their TOPA rights in order to sell the house, but by then, the original buyer had walked away from the deal. The owner lost thousands of dollars, not only by buying the TOPA rights, but in mortgage payments on an unoccupied house.

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An individual was attempting to sell their home. A former tenant, who had already moved out and purchased a home of their own, was given notice of TOPA rights. Despite the former tenant having no interest in making a purchase, the seller had to wait out the entire timeframe, costing them two months of mortgage payments.

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