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Co-op Board Ppwk - Delivering Additional Documents

Started by polonskyoleg
almost 11 years ago
Posts: 11
Member since: Feb 2012
Discussion about
A person at the management company has been reviewing my buyer's Board paperwork, and requested three additional items. My buyer has submitted the items to her via email immediately. She, in turn, asked me, the broker, to drop off the said items at her office and to "insert" them into the Board package. Just to clarify, it takes me over one hour to drive to the mgmt. company, plus an hour to return, and the lady I am dealing with knows it. Her argument is that inserting additional paperwork into Bd packages is "not a part of her job description." Coincidentally, the fees that the said management company charges to process Bd paperwork are above average. I have closed quite a few co-ops, and have never heard of such obnoxious requests on mgmt. companies' behalf. Thoughts?
Response by Flutistic
almost 11 years ago
Posts: 516
Member since: Apr 2007

You really don't have a choice. Just hope your buyers pass the board. Remember, the board hired that management company, which tells you a lot about the board.

To play devil's advocate for just a second, bear in mind that if the board package isn't perfect the underling at the management company could be blamed for "messing up" the board package by inserting documents incorrectly, or "losing" documents, even though it was not her fault. She maybe has had that happen to her and does not want to go through that again.

If this is all that's gone wrong so far, and it's only two hours driving? I'd say you are doing pretty well. And I'm jealous.

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Response by front_porch
almost 11 years ago
Posts: 5316
Member since: Mar 2008

From my POV, it's your job. The fact that the management company is located in an inconvenient place is annoying, but not actually relevant here.

Ali R
{downtown broker}

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Response by jelj13
almost 11 years ago
Posts: 821
Member since: Sep 2011

My managing agent wouldn't insert documents after copies of the package had been submitted. They required 12 copies, so I could understand their point of view. ( Both the seller's and my broker reviewed the package and contacted the managing agent with questions before they made the copies. ) The managing agent also had extra work to do by prescreening the package for mandated criteria from the Board, mainly financial checks. So the application fee was substantial.

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Response by polonskyoleg
almost 11 years ago
Posts: 11
Member since: Feb 2012

All of your points are well taken, colleagues. Will drag my a.. to the management company's office tomorrow morning. Cheers. :-)

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