Skip Navigation
StreetEasy Logo

what are coop boards looking for in an applicant?

Started by breadandroses
over 10 years ago
Posts: 4
Member since: Apr 2015
Discussion about
I have a few offers on my upper west side apartment. I have already moved out so I need to close fast. I have a suitable buyer with excellent finances and they can put 60% down. But they plan a big renovation. Do coop boards turn down applicants because they don't want to deal with renovation hassles? Am I better off picking the offer that isn't as good financially but they don't plan to renovate?
Response by fieldschester
over 10 years ago
Posts: 3525
Member since: Jul 2013

Are you doing FSBO?

Ignored comment. Unhide
Response by NWT
over 10 years ago
Posts: 6643
Member since: Sep 2008

My board, and I think boards in general, want buyers to renovate. It increases the value of the building, and there're all kinds of fees to go into the pot. Almost every buyer ends up renovating anyway. The people down the hall are re-doing a reno that was only a few years old, and the board didn't bat an eye.

Ignored comment. Unhide
Response by raddoc
over 10 years ago
Posts: 166
Member since: Jun 2008

People who look and act just like them but are willing to bare all , act obsequiously and be eternally grateful for the opportunity to spend hard earned money tha may take years to extract when the owner attempts to sell the unit.

Ignored comment. Unhide
Response by NWT
over 10 years ago
Posts: 6643
Member since: Sep 2008

Wow, that was quite the co-op you got yourself into. Tell as about it, since you'll have sold by now anyway.

Ignored comment. Unhide
Response by raddoc
over 10 years ago
Posts: 166
Member since: Jun 2008

Exactly why the last place we owned was a condo. Easy in/out!

Ignored comment. Unhide
Response by Admin2009
over 10 years ago
Posts: 380
Member since: Mar 2014

wow , that's some adventure

Ignored comment. Unhide
Response by gothamsboro
over 10 years ago
Posts: 536
Member since: Sep 2013

Any update?

Ignored comment. Unhide

Add Your Comment