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DRAFT FOR ATTORNEY REVIEW — NOT FINAL

BSA 77 P STREET LLC v. Hawkins, 983 A.2d 988 (2009)

Citation
BSA 77 P STREET LLC v. Hawkins, 983 A.2d 988 (2009)
Parent Document
BSA 77 P STREET LLC v. Hawkins, 983 A.2d 988 (2009)
Jurisdiction
DC (municipal)
Effective Date
2009-11-19

Other Sections in This Document (111)

Full Text

853 chars
The Hawkins, Johnson and Paul contracts specified a settlement date of December 16, 2002, while the Lymore contract scheduled the settlement date for November 11, 2003. Ultimately, however, BSA did not close with any of the tenants on the purchase of their units. Prior to the settlement dates and for several months thereafter, BSA negotiated with Eagle Point, HUD and Prudential to consummate the sale to Eagle Point and to obtain the release BSA deemed necessary to sell the properties to the tenants. The parties failed to close because, according to BSA, it did not receive the necessary release of the mortgage. BSA continued for some time thereafter its efforts to obtain the release and to conclude the sale to Eagle Point. The Eagle Point sale was not consummated because HUD refused to give Eagle Point a HAP agreement along the desired terms.