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Mitchell Lama sale process

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Mitchell Lama sale process

Postby axxel » Wed Nov 14, 2012 10:32 pm

When one needs to sell and move, how long does the process take until a buyer is chosen?

From date the apartment has a new buyer, aprox how long until the seller receives funds for the sale?

Finally, does the seller receive 100% of the money used to purchase it, or can there ever be a deficiency?
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Postby TenantNet » Thu Nov 15, 2012 2:41 am

I presume you're talking about a Mitchel Lama coop (not a rental). We really deal with rentals here. I would suggest you consult with a real estate attorney with experience in Mitchell Lama coops. They are around.
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