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Contract of sale cooperative apartment, 72001Prepared by the Committee on Condominium and Cooperative of the Real Property Section of the New York State Bar AssociationCONSULT YOUR LAWYER BEFORE SIGNING
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How to fill out coop contract of sale

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How to fill out coop contract of sale

01
To fill out a coop contract of sale, follow these steps:
02
Start by entering the date of the contract at the top of the form.
03
Provide the names and contact information of the seller and buyer.
04
Include a description of the property being sold, including the address and any unique identifiers such as unit number or floor.
05
Specify the purchase price and payment terms, including any down payment or financing arrangements.
06
Outline any contingencies or conditions that must be met before the sale can be finalized, such as obtaining financing or a satisfactory home inspection.
07
Include any additional provisions or special agreements, such as furniture or appliances included in the sale.
08
Sign and date the contract, and have both parties and any required witnesses or attorneys also sign.
09
Keep copies of the completed contract for your records.
10
Remember to consult with a real estate attorney or agent for specific guidance and legal advice during the contract filling process.

Who needs coop contract of sale?

01
Anyone who is buying or selling a cooperative (coop) property needs a coop contract of sale.
02
A coop contract of sale is a legally binding agreement that outlines the terms and conditions of the sale between the buyer and seller.
03
It is necessary to protect the rights and interests of both parties involved in the transaction.
04
Whether you are a buyer or seller, having a well-drafted coop contract of sale is essential to ensure a smooth and successful sale process.
05
It is recommended to consult with a real estate attorney or agent to draft or review the coop contract of sale to ensure compliance with local laws and regulations.

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A coop contract of sale is a legal document that outlines the terms and conditions of a sale of shares in a cooperative housing corporation, granting the buyer the right to occupy a specific unit within the building.
Typically, the seller or their attorney is required to file the coop contract of sale with the appropriate government authority.
To fill out a coop contract of sale, include the names of the parties involved, the description of the shares and unit being sold, the purchase price, payment terms, contingencies, closing details, and any additional agreements between the buyer and seller.
The purpose of a coop contract of sale is to legally document the agreement between the buyer and seller regarding the sale of shares in a cooperative housing corporation, ensuring that both parties understand their rights and responsibilities.
The coop contract of sale must report the names of the buyer and seller, the address of the cooperative, the purchase price, terms of payment, closing details, and any contingencies or special conditions.
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