Should I accept an offer from a buyer using an out-of-state lender?

With extreme caution. Out-of-state lenders routinely fail to navigate NYC co-op share loan requirements - they miss recognition agreements, misunderstand maintenance-to-income calculations, and delay closings by weeks. If the buyer insists on their lender, verify the institution has closed at least five co-op transactions in Manhattan in the past year. Otherwise, require a lender switch as a condition of acceptance.

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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.