Disability Income and COOP Board

My buyer had pension income and substantial assets and she was on the path to a board turndown. Wasn't a fancy building, but the board was not comfortable with an older person on a fixed income that was just above the required debt to income ratio - despite substantial assets. (My impression, this was never stated, of course...but that buyer did not move forward.)

Is it all cash purchase with plenty liquid assets left over? Less snooty coops like mine will consider it.

yes all cash with liquid assets........

Hi Eastside - you just need to get your paperwork in order to submit an offer that the owner feels comfortable with accepting you - I.E. Bank statement showing your liquid assets & REBNY financial statement showing the projected expenses to your SSDI is less than 28%.

expenses would be around 40% of ssdi but the liquid assets are substantial enough to pay the expenses - do boards take that into consideration?

Depending on the board, that might be a situation where I would preemptively offer escrow. What does the listing broker say?

ali r.
{downtown broker}