Legal Opinion
Schramm v. Mei Chu Solow
Appellate Division of the Supreme Court of the State of New York
Decided January 10, 2012PublishedCited by 5 opinions
1Opinion of the Court
*625On November 5, 2007, the plaintiff (hereinafter the buyer) and the defendant Mei Chu Solow (hereinafter the seller) entered into a residential contract for the purchase of real property. Pursuant to the terms of the contract, the buyer deposited a down payment of $30,600 into escrow. The contract contained a mortgage contingency clause that conditioned purchase of the property upon issuance of a “firm” mortgage commitment in the amount of $540,000. On her loan application, the buyer significantly inflated her income. Thereafter, she received two conditional loan commitments for less than the…
2Cases cited8 opinions
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