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Time frame?

Started by Txredrider
over 14 years ago
Posts: 102
Member since: Apr 2011
Discussion about
What is the average length of time it takes for the whole coop process to end with a closing?
Response by stencil
over 14 years ago
Posts: 14
Member since: Apr 2011

Depends on you, your financing, the board, your lender, the previous owner, etc. No way to really tell. Average? Maybe 3 months.

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Response by shong
over 14 years ago
Posts: 616
Member since: Apr 2008

It really, really depends on the coop. Based on my dealings with various coops, I would say the average from contract signing to close was about 60-70 days. I've had cases where they closed within 45 days and others that took 90 days+. You should find out how often the board meets. If youre getting financing, you should find out whether the lender has approved the coop. sunny.hong@bankofamerica.com

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