Steps to Owning a Co-op apartment
1) Identify a realtor. It's rare to be able to buy the first apartment you see, so you'll want to connect with someone that you can rely on to show you multiple apartments.
2) Get pre-approved for a mortgage. A good starting point is at https://crosscountrymortgage.com/pittsford-ny-5652/patrick-lavell/
3) Make an offer- detailing your price and mortgage amount. Most sellers will require you to provide a mortgage pre-approval.
4) Offer gets accepted and your accepted offer goes to both the buyer's and seller's attorney for attorney review.
5) Once you've cleared the attorney review, then you'll initiate the loan application.
6) The lender will work to approve both you and the co-op. Once you've both been approved, a letter of commitment will be issued.
7) Once the commitment letter has been issued, you'll work with the co-op to schedule a board interview with the Co-op's board of directors.
8) Once you've been approved by the co-op board, then you'll be able to schedule your closing.
9) At closing you'll sign your loan documents and be handed the keys to your new home.
10)Move into your apartment!