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NY067 Distributed as a Courtesy by Fidelity National Title Insurance Company of New York F.8067Contract of Sale of Cooperative Apartment, 1089. Prepared by The Committee on Condominiums and Cooperatives

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How to fill out contract of sale cooperative

Question:

Write point by point how to fill out a contract of sale for a cooperative. Who needs a contract of sale for a cooperative?

How to fill out a contract of sale for a cooperative:

01

Begin by including the names and contact information of all parties involved in the sale. This includes the seller, buyer, and any agents or representatives involved.

02

Clearly state the purpose of the contract, which is the sale of the cooperative unit. Specify the address and any identifying details of the unit being sold.

03

Provide a detailed description of the cooperative unit, including its size, layout, amenities, and any included furnishings or appliances.

04

Specify the purchase price and the terms of payment. Include details on any down payment, installment plans, or financing arrangements that may be involved.

05

Outline any contingencies or conditions that must be met before the sale is considered final. This may include obtaining financing, completing necessary inspections, or obtaining approval from the cooperative board.

06

Include any shared expenses or fees that the buyer will be responsible for, such as monthly maintenance fees or special assessments.

07

Provide a timeline for the closing process, including the expected date of closing and any deadlines for completing necessary paperwork or inspections.

08

Include any warranties or guarantees that may be applicable to the cooperative unit. This may include warranties for appliances or systems within the unit.

09

Specify the rights and responsibilities of both the buyer and the seller. This may include provisions for maintenance and repairs, access to common areas, or restrictions on alterations to the unit.

10

Include any additional provisions or clauses that both parties have agreed upon. This may include provisions for dispute resolution, termination or cancellation of the contract, or any other specific requirements.

Who needs a contract of sale for a cooperative?

01

Individuals who are purchasing or selling a cooperative unit.

02

Real estate agents or representatives who are assisting with the sale of a cooperative unit.

03

Cooperative boards or management companies who are involved in the sale process and need a legally binding agreement.

Note: It is important to consult with a legal professional or real estate expert when filling out a contract of sale for a cooperative to ensure all necessary legal requirements are met and protect the interests of all parties involved.

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What is contract of sale cooperative?

Contract of sale cooperative is a legal document that outlines the terms and conditions of a sale between a cooperative and a buyer.

Who is required to file contract of sale cooperative?

The cooperative is required to file the contract of sale cooperative.

How to fill out contract of sale cooperative?

The contract of sale cooperative should be filled out with accurate information regarding the sale, including the names of the parties involved, the property being sold, and the terms of the sale.

What is the purpose of contract of sale cooperative?

The purpose of contract of sale cooperative is to formalize the agreement between the cooperative and the buyer.

What information must be reported on contract of sale cooperative?

The contract of sale cooperative must include details such as the names of the parties, description of the property, sale price, and any terms or conditions of the sale.

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