Hello, the co-op queen is here to help you out. First just let me give you a little advice when it comes to selling a co-op on your own that you should be aware of, then I'm going to give you some steps:
1. Difficulty getting information from the buyer about financial qualifications to purchase before signing the contract.
2. The buyer may take forever putting together the co-op package in a timely fashion. Also, doing the package correctly and submitting the all of the documents and fees to management.
3. Scheduling the appraisal, getting the bank appraisal and paying the fees, the inspection (optional to buyer), etc.
4. Kinowing what is going on with the buyers mortgage and not having the ability to speak with the mortgage rep and helping the buyer to get documents and fulfill conditions.
These are just a few things you will not be able to do as the seller, nor will your lawyer for the most part. If your lawyer says he or she is going to do it then it is going to cost big time at the closing table, so be careful.
But the next steps now is that your attorney is going to draw up a contract and send it out to the buyers lawyer. The buyer will go to his or her attorney to review the contract and sign and leave the down payment if he or she agrees to the terms in the contract. After you sign the contract the contract is then legally binding and the buyer will go out to look for a mortgage.
Feel free to give me a call if you need someone to represent your interests and close your deal, it's my specialty. Just visit my site and see how many co-ops I sold in a down market. I look forward to advising you for free or as a representative if necessary. Happy Thanksgiving.
Full Time Top Sales Agent
Specializing in Co-ops and Home Sales
Weichert Realtors, H.P Greenfield
Brooklyn, NY 11203
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