Buying out a co-shareholder- what happens?
Started by NewBuyer3
almost 12 years ago
Posts: 20
Member since: May 2013
Discussion about
Hi all, I've posted here in the past and have gotten great information. To make a long story short, an ex and I purchased a co-op together nine months ago and now it's time for me to try to buy her out. I spoke with management and confirmed that a new application is needed despite my being a current resident. I am putting together the application and am filling out financial info. My current... [more]
Hi all, I've posted here in the past and have gotten great information. To make a long story short, an ex and I purchased a co-op together nine months ago and now it's time for me to try to buy her out. I spoke with management and confirmed that a new application is needed despite my being a current resident. I am putting together the application and am filling out financial info. My current salary is certainly rather low, however, in two months I will be starting a new job that is more than double my current yearly salary. I have a signed offer letter that dictates my new, much higher salary. With this income, it will be pretty obvious ( in my opinion) that I will be able to afford the apt. I will not have a mortgage, by the way, and will be buying her out fully in cash. Can / will the board take my new offer letter into consideration? Anyone have experience with this? Thanks. [less]
They should. Just include the letter in the package and make a note of it in the application regardless of whether they have a separate line asking for expected 2014 income.
Thanks - I hope you're right.