SSN # social security numbers & Coop Applications

I sold our co-op without a broker. I told the buyers I would be shredding any paper documents not submitted to the managing agent, and I would deliver documents to the managing agent personally, and I did. I obtained a receipt from the mail desk at the managing agent, which I would recommend.

If a buyer, you could take control of this process and keep everything in your own hands, if you like. I would meet with the seller's agent when the package is ready and let them look it over if I were a direct buyer who wanted reassurance.

Note that even seemingly small specifications for the application--tabs for every section, must be in a 3 ring binder, must have a cover letter, whatever--must be followed exactly. A cover letter is a great idea even if not requested. You can treat the whole thing like a job interview and that will guide you quite well.

By the way in my co-op sale neither party had a broker--very unusual in this town. Usually one side will have a broker, who will call themselves a dual agent most likely, in that case why not put them to work, regardless of which side of the deal you're on.

Broker has your key.

When I bought, my broker handled all the paperwork. He was security conscious, and initial pro-forma financials were provided to the selling broker with redacted info. The board package of course had everything, but the selling broker was not provided a copy -- she was invited to review the final package at my broker's office, and wasn't permitted to have her own copy. My broker delivered the packages to the managing agent. I had to trust that the managing agent and board members appropriately disposed of copies of my package when they were done. My broker was a close friend of mine, so I wasn't too worried about the risk of info going astray.

My building , the Board shreds all documents post closing