How quickly can closing happen after a condo plan becomes effective?

West81st: about 5 months ago

Figure on 60-90 days.

kewlly: about 5 months ago

Maybe I mis-stated the question. I was wondering how long it takes from when the developer is done selling 15% of the units and files to get the plan effective to when it actually gets declared effective, allowing closings to start. Is 30-40 days how long it takes to process the paperwork to get a condo plan declared effective?

West81st: about 5 months ago

I've personally seen as little as 30-40 days. I don't know of any legal minimum - I think it's mostly a matter of coordinating lawyers and lenders.

kewlly: about 5 months ago

Does anyone know how long after a plan becomes effective (when 15% of the condo is sold and the developer files) condo closings can begin? I've heard 60 days but does anyone have any personal experience with this?