[Ilaw] Mitchell-Lama NYC co-op

Client became eligible to purchase a Mitchell-Lama co-op unit. Paperwork seems to just be an offer letter, then once approved straight to closing with standard form occupancy agreement and stock certificate delivered with the keys upon payment to the co-op of the (well below market) price. I have not seen one of these deals in years. In general, do buyer’s attorneys do full or any DD, and a lien search, as we would for a market rate deal? Any thoughts would be appreciated. Thanks all. Steven M. Nachman snachman@nachmanlawyer.com<mailto:snachman@nachmanlawyer.com>