I have signed a contract for purchasing a coop and I need master insurance for applying for mortgage (home loan). I asked my agent for it. However, my agent told me I can get it from coop board when they are interviewing me. I don't know whether she is telling the truth.
Who should I ask if i want a copy of master insurance of the cooperative that I am purchasing?
Yes, she is right you can get a copy by asking your Coop Board. They have to provide it to you.
But....she can also get a copy from the agent that insures the Coop. It doesnt sound like she wants to get it for you, so I would just go to the Coop and tell them you need a copy for your Mortgage Comp.
Who should I ask if i want a copy of master insurance of the cooperative that I am purchasing?
Yep, you need to get it from the board. You ALSO need to carry your own coverage, as the board policy is NOT going to cover your stuff, or your improvements, or your liability.
I would NOT close on the coop, until you have the bylaws and the master policy, AND your attorney has had a chance to read them.
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