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Contract of sale cooperative apartment. 7-2001 Prepared by the Committee on Condominium and Cooperative of the Real Property Section of the New York State Bar Association CONSULT YOUR LAWYER BEFORE
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How to fill out contract of sale cooperative

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How to fill out a contract of sale cooperative:

01
Begin by listing the full legal names and contact information of both the buyer and the seller.
02
Specify the property or cooperative unit being sold, including the address and any relevant unit or floor numbers.
03
Clearly state the terms of the sale, including the purchase price, any down payment, and the payment schedule.
04
Include any contingencies or conditions that must be met for the sale to be completed, such as passing a home inspection or securing financing.
05
Outline any additional items or fixtures included in the sale, such as appliances or furniture, and specify if they are included in the purchase price or are subject to separate negotiation.
06
Describe any warranties or guarantees provided by the seller, such as guarantees on the condition of the property or the functioning of appliances.
07
Specify the closing date, when the ownership of the cooperative unit will officially transfer from the seller to the buyer.
08
Include any provisions for earnest money or deposits, stating how they will be handled in case the sale falls through.
09
Outline any legal disclosures required by law, such as information about the cooperative board, any pending litigation, or known defects in the property.
10
Finally, ensure that both parties sign and date the contract in the presence of witnesses, if required by local regulations.

Who needs a contract of sale cooperative?

01
Buyers and sellers of cooperative units who want a legally binding agreement that outlines the terms of the sale.
02
Real estate agents and brokers involved in facilitating the sale of cooperative units.
03
Lawyers and legal professionals who need to draft or review the contract to ensure compliance with relevant laws and regulations.
04
Cooperative boards or management companies involved in the sale of cooperative units within their building or community.
05
Lenders or financial institutions providing financing for the purchase of cooperative units.
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A contract of sale cooperative is a legal document that outlines the terms and conditions of a sale of cooperative property.
The seller is usually required to file the contract of sale cooperative.
The contract of sale cooperative can be filled out by including details of the property, sale price, terms of payment, and signatures of both buyer and seller.
The purpose of the contract of sale cooperative is to legally bind both parties to the terms of the sale and protect their rights.
Information such as property details, sale price, payment terms, signatures of both buyer and seller, and any additional terms and conditions.
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2002 New_York Escrowee Personalty thereon FIRPTA hereof uncollected IRC CNS omissions indemnifies Apportionments IOLA apportion 1099-S Indemnities indemnitee appealable severally indemnitor non1 stakeholder NonForeign thereunder reimbursable 1or leasehold

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