We’ve all heard someone say, “I’ve signed the contract; we should be closing in no time.” Not so fast. In the fast-paced world of 2010 we all live in, it’s become increasingly harder to get everyone in the same room, according to Coopandcondo.com. The site recently published an in-depth article with tips for buyers and sellers and their co-op deals.
Remember that your closing date is approximate and can be held up by a number of factors. It crucial to keep everyone in the loop including your attorneys, contractors and brokers to make sure the process runs smoothly. According to the site, “The best protection against a problem with the closing date is to communicate your needs up front and make sure the other party is capable of closing on the contractually specified date.”
The section on personal property brings across many valid points as home furnishings often get lost in the shuffle. Don’t expect even the smallest item to be left as sellers will take everything they claim their own. On the seller’s side, make sure everything is accounted for before moving out.
Another great point the article brings up is scheduling move-in and move-out dates. In elevated buildings and walkups especially, coordinating a time to move your belongings can be a stepping stone. Make sure to stay a step ahead and schedule a time.
There are many other useful tips inside this guide to co-op and condo closings. Stay tuned for more helpful info for buyers and sellers.
We’ll see you home.
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