Co=Op Question

MRSJLK Posted: Sep 16, 2004 02:21 PM

Co=Op Question

Does anyone know approximately how long the co-op process takes from start to finish?

Thanks!!

DjPiLL Posted: Sep 16, 2004 04:56 PM

Re: Co=Op Question

Add about 2-4 weeks to a house closing. Thats because the board usually like to see a mortgage commitment letter and thats what takes time to get from the bank. Can't really start co-op paperwork till you have that.

AtticaQT Posted: Sep 16, 2004 06:14 PM

Re: Co=Op Question

FH and i are pruchasing a coop - we signed the contract in the middle of july - it took the owner a week or so to sign it - then a week later we applied for a mortgage - we went on vacation came back and we now have a date to meet with the board on teh 28th of Sept (would have been teh 21st but they changed it on us). We are hoping to close my early october.

Fh's brother just purchased a coop - they signed the contracts a few day before we did and they closed this week - so theirs took 2 months.

november12003 Posted: Sep 16, 2004 08:15 PM

Re: Co=Op Question

Ours took FOREVER!!! We made the offer in August, didn't close until February. Between the maintenance company losing stuff, trying to coordinate the 3 groups of lawyers, and filling out/signing tons of paperwork, it was a long and painful process...but definitely worth it!!!

palebride Posted: Sep 17, 2004 10:27 AM

Re: Co=Op Question

we signed the paperwork in late november, met with the board in early december, closed in early march........it took forever!

but my brother had his closing done in about a month i think

anjerandunder Posted: Sep 17, 2004 10:02 PM

Re: Co=Op Question

ours took a month..a very long month though..

boosh78201 Posted: Sep 18, 2004 12:06 AM

Re: Co=Op Question

We started doing the paperwork in December and we closed in March.

Moehick Posted: Sep 18, 2004 10:44 PM

Re: Co=Op Question

We signed our paperwork in early November and didn't close until March!!

Chloegirl Posted: Sep 20, 2004 10:33 AM

Re: Co=Op Question

Signed the contract the first week of August and closing October 15th!

suezboss Posted: Sep 20, 2004 08:23 PM

Re: Co=Op Question

We signed the contract in JUNE... STILL WAITING TO CLOSE!!!!aaaaaaahhhhhhhhhhhhhhhhhhhhhhhh

Hopefully it's OCTOBER 1st!!!

We met with the co-op board last week and all is OK, so now we're just waiting for lawyers to speak for a date!

WISH US LUCK!!!