Many co-op boards enforce unwritten minimum price floors to protect building comps. If your contract price falls below this threshold, the board may reject the buyer regardless of their financial strength. When you need to make a concession, issue a closing credit instead of reducing the contract price. This keeps the recorded sale at the board-acceptable level while giving the buyer the economic relief they need.
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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