Purchasing MF but green card will take 2-3 months?

[Peter Fokas]

I am in contract to purchase a 6 family building in NJ. Green card inspection was done but will take 2-3 months for the actually green card to be issued.

Since no green card in hand my lender requires 5k in escrow to cover any suprises. I do not want to wait 2-3 months to close. What should I do?

Who should bear the responsibility of the 5k in escrow - seller or buyer?

[Ibrahim Hughes]

See if you can go directly to the DCA in trenton and pick it up over the counter.

Seth in New Jersey a green card, sort of like statewide certificate of occupancy for multi family dwellings three units and up as well as hotels, is needed when obtaining permanent financing.