AFTER THE PURCHASE
Once the closing occurs, FCSG is very involved with ensuring there is a smooth transition between the park owner's management team and the new management company hired by the homeowner's association board of directors during the purchase process.
Having professional management is a requirement of Chapter 719, the Cooperative Statute, which the new cooperative will be organized under, and of the lender holding the community's mortgage.
In addition, share paperwork continues after the closing occurs. Residents who participate in the purchase typically receive their share documentation approximately 30 to 45 days after the master closing. The closing of the community must occur first before the share documents can be filed with the Clerk of the Court in the county in which the community is located.
All post purchase work conducted by FCSG is included in the one-time fee that is paid at closing. If there is no closing, FCSG does not get paid.