Yes. Many co-op boards enforce unwritten minimum price floors to protect building comps and collective equity. If your contract price drops below the board's threshold - even by $25,000 - the board can reject the buyer outright regardless of their financial qualifications. This is why closing credits exist: they deliver the economic concession without reducing the officially recorded sale price that the board evaluates.
This article provides general educational information only. It is not legal, tax, financial, insurance, compliance, housing, brokerage, or professional advice. Rules, tax rates, obligations, enforcement practices, and market conditions vary by property, building, contract, municipality, and jurisdiction, and they change. Sellers should consult a qualified attorney, CPA, or other appropriate professional before making decisions based on their specific situation.
From the seller playbook: Concession Control: Credits vs. Price Reductions
This is general information, not legal, tax or accounting advice. Every situation is different. Talk to a licensed attorney, accountant or tax professional before you act.
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