Require the buyer to be fully underwritten before contract signing - not just pre-approved. Mandate a commitment deadline of 30 days in the contract with a kill provision if missed. Verify the buyer's lender has co-op experience and understands recognition agreement requirements. Follow up weekly with the buyer's attorney on lender status. Every day saved in mortgage processing is a day earlier the board package can be submitted.
From the seller playbook: Financing Timeline Compression
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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