Why do some coops require 20% down and some 10% down?

Asked by Fernando, Wed Jan 28, 2009

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Owen Clinton, , Queens, NY
Wed Jan 28, 2009
Usually (at the discretion of the co-op board), it assures a financially secure purchaser for the buy-in. The board may wish for the most financially secure purchasers, coupled with other criteria when accepting prospective co-op owners.
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