Hi Curious, You said your offer was accepted- with what terms? Is it contingent on you selling your unit first? do you have the funds to close on your purchase before completing the sale on your coop? paying maintenance on 2 units is not good obviously.. Unless you have the funds to purchase without selling your coop-I would try to get a 5-6 month closing...it will give you a chance to put your coop on the market-if priced well- you should get activity immediately.. B sure to discuss your details with your attorney that is familiar with coops and don't skip any details.
Get from your managemnt office Offering plan or prospectus if the building was not originally built as a coop, 2 years financials, re-sale application to find requirements for purchasers. When you accept an offer-which should really be scrutinized for quality buyer, credit score, pre-approval, 2 years 1040s ,,AND NOTHING TO SELL 1st. .The mortgage for your buyer will take minimum 30-45 days, then the board application is submitted once the commitment is in, interview with the board members-that can take another 6-8 weeks. You need a good 4-5 months. just a quick list -missing alot of in between details...Terry K 718-614-3167 cell or email me therese.Korahais@elliman.com months