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Board Requirements

Started by Mr_Realty_NYC
about 14 years ago
Posts: 15
Member since: Nov 2011
What are the board requirements to purchase for this building? Specifically the debt to income ratio required and anything else I might need to know. Thanks.
Response by Truth
about 14 years ago
Posts: 5641
Member since: Dec 2009

The listing broker didn't tell you? Did you ask him/her?
Look the address up on the se search if the listing broker can't/won't tell you.
Then call another broker listed as doing sale(s) in that building and tell them that they can be your buyer's broker if they can give you that info.

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Response by NYCMatt
about 14 years ago
Posts: 7523
Member since: May 2009

Keep in mind that no board is ever going to say definitively what their "yardstick" is for things like debt to income ratio, because it's different for each applicant. One applicant may come well under our general rule, but have a sketchy work history. Another may exceed it, but have an amazing credit record, work history, and glowing personal recommendations.

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Response by Truth
about 14 years ago
Posts: 5641
Member since: Dec 2009

True and the listing broker should be able to give you a general idea of requirements for anything else you might need to know.

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