If you’re buying an apartment in a co-op in New York City, there’s an extra step you’ll need to take before you can close the deal: a co-op board interview. Since co-op buildings are jointly owned by all the residents, they have a special interest in checking you out before they let you move in.
Co-op board interviews can be daunting in the eyes of buyers, since boards can (and do) reject buyers, although not all that frequently—only about 3% to 5% of buyers are turned down, and mostly for financial reasons, rather than personal ones. Nonetheless, since you want to head in prepared, here’s what you need to know.
Read the full article in Realtor.com