The bank will but your main concern will be the co-op Board. Co-op Boards vary in their requirements and rigidness to qualify prospective buyers.
As a former real estate broker, if you are represented by a real estate agent, have your agent contact the listing agent to find out from the seller how flexible the Board is with the minimum down payment percentage.
If you have the full down payment required, and just need assistance with closing costs, the co-op has nothing to do with that. Closing costs is between you and the seller. Again, it's up to the seller if they want to help you out. Please note, sellers are paying the full commission to both agents PLUS they are responsible for paying a flip tax & their attorney's fee. Asking the seller to cut their net sale price to help you with closing costs may not happen. You can try but don't get your hopes up. Remember, the seller can keep looking for another buyer who qualifies more than you do.
Another suggestion is instead of asking 3% sellers assist, just negotiate for a lower price offer. If the seller accepts, then you won't need to ask for seller's assistance.... more