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Coop requirements

Started by Buyingnow
over 16 years ago
Posts: 67
Member since: Apr 2009
Discussion about
Looking to buy a coop directly with the owner with out broker. I am having hard time finding out COOP requirements for the building. Since there is no RE broker, not sure who to ask. When I asked the management company, they just sent me the board package and that simply consists of what documents to submmit without any mentions of requirements. Advice?
Response by Arlodog
over 16 years ago
Posts: 37
Member since: Jun 2009

You could seek out the last sales agent who listed in the building and ask for some guidelines. If they're professional, they shouldn't expect/demand some sort of quid pro quo from you. If you don't have faith in the brokerage community to behave well, I suggest you politely hold the management company's feet to the fire and ask them to check with the Board. You might have better luck in general getting more responsive cooperation after Labor Day.

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Response by ab_11218
over 16 years ago
Posts: 2017
Member since: May 2009

I would expect the seller to get this information from the board if the management company does not know. It would be in their best interest not to waist their time with a buyer who could be unqualified based on board requirements.

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Response by Ubottom
over 16 years ago
Posts: 740
Member since: Apr 2009

clearly next step is to ask the seller--seller has equal interest in getting you proper info--if you arent qualified he will want to get the apt back on mkt before the next pukeshot--jk--congrats on your purchase--you may well have bought in the trough--seller should be very interested in helping you present well to the board--mgmt co prob doesnt like fsbo sitch--they're part of the whole con

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