seller's agreement to pay maint

In my case the seller agreed to carry an assessment for a certain amount of time and paid the full amount at the closing, directly to the management company.

coopfornow

in Co-Op Related 13 years and 7 months ago

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Suzanne | 13 years and 7 months ago

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If you have been part of a deal in which the seller of a coop agrees to pay x months of maintenance, how do the logistics of this work?   Does the seller (not a sponsor unit) prepay the coop at closing?  Put the money in escrow (and if so, how is it accessed) at closing?  I can’t get good answers on this.  Thanks.