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Can boards rescind sale approval before closing?

Started by alyssa
over 7 years ago
Posts: 4
Member since: Aug 2018
Discussion about
If something material happens between the time the board approves the sale and managing agent issues letter that sale is clear to close, are they able to change their minds?
Response by RiddhiBman
over 7 years ago
Posts: 112
Member since: May 2015

Very rare to see happen. This article goes over the whole board approval thing:

https://www.hauseit.com/co-op-board-approval-nyc/

See comments section, it seems like someone had your exact same question

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