APPLICATION PROCESS
Once you have reached an agreement on the purchase price, you are required to complete (or obtain), and submit the following documents to the site-office:
- PURCHASE AGREEMENT: (Executed Offer to Purchase):
The agreement provides the price, terms and conditions of the purchase. (Forms are available from your realtor.)
TRANSFER OF MEMBERSHIP:
Please complete all requested information and have all required parties sign the form.(Form is enclosed)
- PROSPECTIVE BUYER (APPLICANT) INFORMATION:
Please complete the form in its entirety, both the applicant and co-applicant, if applicable. (Form is enclosed)
- FINANCIAL INFORMATION:
Please complete the form in its entirety, by both the applicant and co-applicant, if applicable. (Form is enclosed)
- BANK VERIFICATION OF ASSETS:
This form provides the type of account, age of account and balances. You will complete, sign, date the top of the form and provide it to your Financial Institution for completion.
The Financial Institution will complete the remaining information, sign, date, and mail the form to Town Square Cooperative’s site-office. (Form is enclosed additional copies are available at the site-office)
- VERIFICATION OF EMPLOYMENT:
The form provides your position, length of employment and salary. You will complete, sign, date the top of the form and provide it to your employer for completion.
Your employer will complete the remaining information, sign, date, and mail the form to Town Square Cooperative’s site-office. (Form is enclosed additional copies are available at the site-office)
If self-employed, complete form and submit copies of your two most recent (certified) profit and loss statements, along with your two most recent W-2 forms and IRS 1040 tax submissions.
If retired, complete form and submit verification of social security and/or pension statements.
- CREDIT REPORT:
Please request and submit original report(s), for both the applicant and co-applicant (if applicable).
- PROOF OF INCOME:
If employed, please submit 2 years of your most recent Federal income tax returns, along with the corresponding W2 forms.
If self-employed, submit copies of your two most recent (certified) profit and loss statements, along with your 2 most recent W -2 forms and IRS 1040 tax submissions.
If retired, submit verification of social security and/or pension statements.
- PRIOR MORTGAGE VERIFICATION AND/OR TENANT OCCUPANCY:
Please complete, sign, date the top of the Mortgage Payment History form and provide it to your Financial Institution for completion. The Financial Institution will complete the remaining information, sign, date, and mail the form to Town Square Cooperative’s site-office. (Form is enclosed; additional copies are available at the site-office.)
If you are renting (or leasing), please complete, sign, date the top of the Verification of Prior Tenant Occupancy and provide it to your property owner. The property owner will complete the remaining information, sign, date, and mail the form to Town Square Cooperative’s site-office.
(Form is enclosed; additional copies are available at the site-office)
- REFERENCE LETTERS:
Please provide the enclosed Personal Reference Letters to four persons for completion and submission to the site-office.