Those who own a co-op

What Is asked during the interview process? (besides your whole life story lol)
Also are they real PITAs like I keep hearing about?

Re: Those who own a co-op

I don't own a co-op, but I've sold them. I think it really depends on the particular co-op.

My experience is that the ones on Long Island are mostly just concerned with the financials, and if they do an interview, it's very brief and basically a formality. I have sold co-ops in Nassau where there is NO interview.

But I do think you want to be as nice and cooperative as possible when dealing with the board. A colleague of mine recently lost a deal on a co-op in Cedarhurst because the buyer didn't bring the requisite number of copies of a certain document, and then got snippy when dealing with the management company. She was ultimately rejected.

In the city, it's totally different. When I was practicing law, I was often asked to write personal recommendations for colleagues, addressing not just their work situation, but their character and personality! Those interviews are more extensive and intense for sure.

Re: Those who own a co-op

not sure but good luck!

Message edited 8/3/2011 11:46:38 AM.

Re: Those who own a co-op

For me, the "interview" wasn't really an interview. It was more of going over the co-op rules and meeting the board. Obviously they can't say this, but they wanted to make sure that I was a good "fit" for their little community. As a buyer, it was great because I knew that there would not be a creepo living next door but as a seller, it was terrible! We had two buyers that were denied (1 was a little socially akward and the other was a priest!) until finally the 3rd buyer (college librarian) was accepted. We loved co-op living until it was time to sell! Good luck!

Re: Those who own a co-op

I'm on the board in Queens.

We don't really ask questions during the interview except if we have questions about the financials. All of us on the re-sale committee are privy to the application submitted by the potential shareholder. The only reason that an applicant can be rejected is for financial reasons.

We go over the rules & regulations, the extra charges to the base maintenance (parking, washer/dryer, ac units). Let you know where the garbage rooms are, the laundry room and its hours. Who to call when you have a problem.
We explain the flip tax in great detail.

We cannot ask about your age, your marital status, your ethnicity, how many children you are planning to have, etc.
Anything that can be viewed as discriminatory is a no-no.

But feel free to ask us questions. We like that.

HTH.

Re: Those who own a co-op

Re: Those who own a co-op

When I bought my co-op it was more about going over the house rules and just normal conversation. I think they just want to make sure you seem like you won't be the loud person, you seem responsible, etc. Very informal and stress free

ETA: good luck!

Message edited 8/4/2011 10:26:19 AM.

Re: Those who own a co-op

We weren't asked a thing. The board member sat us down and gave us a laundry key and card with some money on it and gave us the books with the development rules. That was it!

Re: Those who own a co-op

Message edited 8/4/2011 12:45:50 PM.

Re: Those who own a co-op

To the ladies who own co-ops where do you live? Me and my Dh are starting to look around. We live in Patchouge and would love some feedback.