Showing posts from November, 2020

All Cash Client Question About The Transaction Timeline From Contract On

  Good morning, Sharon.  You asked me about the timeline for the purchase application and board package in your text, but I figured I'd write to you here.  The Due Diligence: 2-5 days usually First, your attorney will do the due diligence work looking through the building financials, the minutes of the coop meetings, the by-laws, the offering plan, and other sources to see how the coop is doing, if there's any litigation, any current assessments and/or talk of future assessments, etc. She will also negotiate the contract to make sure you are protected, etc. The Contract Signing: 2-5 days usually   After the due diligence work is complete, your attorney will discuss her findings with you and will either call you to sign the contract in her office or will email you the contract for you to sign it digitally.  She will also ask you to make your deposit of 10% of the accepted offer amount. That could be made by a bank check or by a wire transfer. She will give you the options.  Then