NYC Co-op Board Application - Instructions and Examples
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Learn how to prepare a NYC co-op board application:

Buying a co-op apartment in New York City? If so, you probably know that before you can close on your purchase you must submit a co-op board application, undergo an interview and be approved by the board. Even if you’ve requested a buyer agent commission rebate and are working with a buyer’s agent, you still need to know the basics of how NYC co-op board purchase applications work.

NYC co-op board application tips, tricks and instructions:

What information is included in a co-op board application?

The first component of a co-op board application is the purchase application. This section asks for general information about yourself and the proposed transaction.

You will also be expected to submit a personal financial statement, proof of assets, previous tax returns, professional and personal reference letters, a copy of the executed contract, a credit report release form, employment and landlord verification letters and photo ID. If you are financing the purchase, you will also need to provide a copy of the loan application, commitment letter and copies of the Aztec recognition agreements.

Request a Buyer Broker Commission Rebate:

What are some tips for assembling a co-op purchase application?

The most important things to remember when assembling a co-op board application are attention to detail and thoroughness. It’s suggested that you type the application, ensure that the figures on your financial statement correspond exactly to those on your supporting documentation, and submit certified checks for any fees.

What fees are associated with submitting a co-op board application?

The type and amount of the co-op purchase application fees will vary by building. Some typical fees may include an application processing fee, credit and criminal background check fees as well as a move-in deposit.

When do I submit a co-op purchase application?

In most cases, you should begin preparing your co-op purchase application after you have a fully countersigned contract.

Full Article: NYC Coop Board Package Purchase Application

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