Co-op Purchase Questions

[Pruzhany]

Originally Posted by Cida

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Do you have a lawyer? In NYC people seem to use lawyers more than in other cities.

Outside of NYC, we don't use Lawyers at all. All the payments to people come out of sellers payment to their agent.

[Pruzhany]

I've been on the sellers side of the issue and the process is not that bad. The way it went for me is that everyone sat in a room with the buyer and seller staring at each other and doing any final bargaining necessary. After that we sat there signing loads of paperwork while a few people with check registers and laptops cut checks and did money transfers. As to the flip tax, don't worry about it too much. The links below should give a better idea of what is and will be your closing costs.


https://www.hauseit.com/closing-costs-nyc/
https://www.brickunderground.com/blo.../closing_costs