Coop Buyer's Checklist
- Provide National Capital Title & Escrow, llc (NCTE), a copy of the signed and ratified contract of sale, which should specify a date by which settlement must occur.
- Schedule the settlement date and time.
- Provide NCTE full legal names and social security numbers. Tell us what names are to be on the cooperative ownership documents.
- Provide Marital Status and tenancy type:
- Tenants by the Entirety (if one person dies, the property automatically goes to the surviving spouse; this is only available to married couples)
- Tenants in Common (each person has an defined percentage of interest in the property, and, upon death, each person determines who is the beneficiary of his or her interest)
- Joint Tenants With Right of Survivorship (if one person dies, the property automatically goes to the survivor)
- Bring driver’s license or passport (must be current)
- Bring money due at settlement: a cashier’s check is usually accepted; a wire may be required.
- Please contact NCTE for details. Cashier’s checks should be made payable to National Capital Title and Escrow, llc.
- The buyer should bring a checkbook in case additional amounts are required. If the cashier’s check is over the amount needed, a refund can be issued at the closing.
- In cases where we cannot get you the exact figure for closing, the buyer should use the good faith estimate given by the realtor for the cashier’s check amount.