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Process for Approval

Started by newbie08
over 17 years ago
Posts: 44
Member since: Feb 2008
Discussion about
Hello - i am about to rent a place that is subject to board approval; is it common to drop off certified checks for the 1st month rent, security deposit and the brokers fee before the coop board has approved and before a move in date has been agreed to?
Response by newbie08
over 17 years ago
Posts: 44
Member since: Feb 2008

sorry - this is for a rental - and i am just worried that they will cash the checks

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Response by joepa
over 17 years ago
Posts: 278
Member since: Mar 2008

Though I would think that it should be okay to withhold these checks until board approval, I would speak to the broker. Every coop probably has their own rules and you don't want to be rejected because you didn't strictly adhere.

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Response by verain
over 17 years ago
Posts: 133
Member since: Apr 2008

Can't withhold the checks ... would be a condition of the board package to present certified checks.

If the owner cashes them prior to him having authority to deliver you an apartment, he's committed fraud.

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