Reporting Closed on SE
Started by redsea10021
over 13 years ago
Posts: 31
Member since: Feb 2009
Discussion about
How long after a co-op closes is it reported on SE? Seems some are in contract for months?
Not SE's fault. Out of their realm.
Anywhere from 5 days to 60 days, sometimes longer.
It depends on when it's recorded with Acris, the source of the info for SE.
Not to mention the period between contract signed and closing is generally measured in months anyway.
Unusually long periods of time may indicate the board rejected the first candidate and the seller had to restart the process with another buyer. Properties aren't always relisted if there's another buyer waiting in the wings.
Here's one that was recorded on ACRIS more than two years after the sale: http://a836-acris.nyc.gov/Scripts/DocSearch.dll/Detail?Doc_ID=2012081501363001
i would say 50% of sales are filed within 3 weeks or so
push it up to 70% after 5 weeks or so
push it up to 80% after 8 weeks or so
push it up to 90%-93% or so after 12 weeks
Then you got those that for some reason file 3+ months later or years later.
Been looking into this for a long time. I did not do any metrics on it, just my gut based on what I have researched
I am watching 2 apts that should have closed at the end of August or first week of September. So anxiously awaiting to find out the final selling price.