Congratulations on completing all of the steps to selling a co-op in NYC! At this stage, you can let the lawyers on both stage schedule and handle the closing. Closings are typically held at the building management company’s offices for co-ops. This is in contrast to condo closings which typically occur at the seller’s attorney’s offices.
On closing day, you can expect to see some familiar faces. You, the buyer, your attorney, the buyer’s attorney, a closing coordinator who is also often a notary, the buyer’s bank’s attorney if the purchase will be financed, the seller’s bank’s attorney if there is an outstanding loan on your co-op and the brokers representing both parties.
Note: Don’t expect to always see the brokers show up to closing. They don’t have an actual role in the closing itself except for picking up their commission check. As a result, if they do show up it will be purely as a courtesy and for moral support for their client. Brokers often don’t show up to closings at all and pick up their commission check from the seller’s attorney at a later, more convenient time. Ironically, brokers are the least important among the steps to selling a co-op at closing.