By Rosemary Liuzzo Mohamed

The short answer is “Yes.” The coop board has a great deal of control and responsibility over the safety of the shareholders, the units, and the building as a whole. The buildings structural integrity must be maintained at all times. Therefore, a coop board may require certain repairs be completed and specific issues addressed prior to approving the sale of a unit.

The board will likely make this decision in connection with electrical, structural, and plumbing safety hazards. The board may also address non-compliant alterations made to the unit without board approval, or damage made by a shareholder to the common areas of a building.

Most times, a closing may not be set until the required repairs are completed. However, some buyers may choose to take on the responsibility of the required repairs due to many factors such as a sales price reduction, mortgage rate expirations, money held in escrow, time restraints, etc. If the coop will allow the closing to occur and shift the repair responsibility to the buyer, it may be beneficial to all parties involved, especially if a buyer does not plan to occupy the unit immediately following the closing.

It is important in these instances for the coop board, sellers, and potential buyers to thoroughly understand their obligations and rights. A thorough comprehension of each parties’ responsibilities is crucial in determining the most effective and legal path forward to combat the repairs while maintaining appropriate legal rights. ALB, PC’s coop/condo and transactional departments specialize in scenarios such as these and are here to help and counsel further.