Home > Closings

Closings

Thank you for using our website for the closing about which you have inquired. Using the website will facilitate and expedite the closing. Finger & Finger, A Professional Corporation, is general counsel and transfer agent to the Cooperative about which you have inquired. At the end of this email you will be asked to click on a button which will direct you to another page to complete an online form to commence the closing process. Following these instructions and completing the online form will expedite the closing process. Please follow the instructions herein carefully and exactly to avoid any problems or delay.

Prior to SCHEDULING Closing

The following must be provided prior to scheduling a closing (copies may be supplied prior to closing and originals must be supplied at closing):

From the Seller:
1. Stock Certificate;
2. Proprietary Lease cover page, first page, signature page, notary pages, all assignments, all assumptions, and all consents;
3. If Stock or Lease has been lost: Affidavit of Lost Stock or Lease, and bond if affidavit is not from an institutional lender, originals of all at closing;
4. Power of Attorney (if applicable);
5. Death Certificate/Letters Testamentary/Release of Lien (if applicable);
6. Letter regarding tax abatements/refund/credit signed by Seller and Purchaser.

From the Purchaser:
1. Recognition Agreement (if financing);
2. Board Approval in writing from Managing Agent;
3. Notification as to the correct spelling of the Purchaser(s) name and how Purchaser(s) are to hold title (i.e. Joint Tenants With Right of Survivorship, Tenants by the Entirety or Tenants in Common);
4. Copy of the UCC lien search;

Scheduling Closing
Upon receipt of ALL documents set forth above from the Seller and the Purchaser the closing may be scheduled at the office of Finger & Finger, A Professional Corporation, 158 Grand Street, White Plains, New York 10601.

CLOSING
Payoff Lender, if any: The Seller is responsible to coordinate with any payoff lender for bringing the original stock and lease and appurtenant documents to the closing.
New York State Transfer Tax (TP-584): The Seller is responsible for preparing the New York State Transfer Tax (TP-584) form and paying the transfer tax.
Purchaser’s Lender: The Purchaser is responsible to coordinate with any lending institution providing financing for its purchase.
Documents: All parties will be required to sign certain required documents including an assignment, assumption, and acceptance relative to the lease, stock power, and cooperative transfer agreement.
All parties must bring driver’s licenses or other legal identification to the closing.

COMMENCING THE CLOSING PROCESS
To start the process and obtain a list of closing costs, please click here and complete the online transfer form. We will email you a link and code for another page on this website which will allow you to obtain a list of the associated closing costs.

We thank you for your cooperation and look forward to working with you to successfully conclude this transfer.


Please enter your code to contiue