How to Prepare for a NYC Co-op Board Interview: [ Ссылка ]

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Congratulations on being in contract to buy a coveted New York City cooperative apartment! As the next step, you’ll need to submit a purchase application and pass the infamous co-op board interview in order to complete your purchase.

Co-op boards hold enormous power, as they can reject a prospective purchaser without having to provide a reason.

As a result, it’s important for you to not only submit a thorough, neat and accurate purchase application but to also be presentable at the co-op board interview.

Here are some tips and suggestions on preparing for the co-op board interview in NYC:

Relax! Remember that being invited in the first place is a good sign.

Receiving an interview request means that the co-op board has already reviewed your board package and conditionally approved your application. The purpose of the interview itself is simply to make sure you’re not a complete wreck in person and/or very different from the application’s version of you.

The style of the interview can range from a casual gathering in one of the board member’s living rooms to a formal interview in a conference room, almost like a senate hearing with you being put on the spot.

Dress professionally and be on time.

Both suggestions should be viewed in the same light as a professional job interview. Try to arrive at least 15 minutes early and definitely don’t make the board wait for you! It’s always better to be slightly overdressed versus slightly underdressed. We suggest business casual attire.

Be prepared for your privacy to be invaded.

The board can ask a wide array of probing questions that will invade on your personal privacy. Try to be as open and honest as you can, and be prepared for the possibility of invasive questions in advance. Try to avoid being evasive in your answers or giving off even the slightest hint of aggression, even if you don’t like the questions being asked.

Be familiar with the details of your purchase application.

You should be intimately familiar with the purchase application you’ve submitted, and you should be able to quickly and concisely answer any detailed questions about your application, preferably without having to look at it. It’s acceptable to bring a copy for yourself if you need to.

Don’t go out of your way to sell yourself.

Remember, you’ve already been conditionally approved based on your purchase application. There’s no need to go out of your way to sell yourself. Let the board lead the interview and only answer questions which you’ve been asked. Boards rarely turn down applicants because the interview was too short or too boring.

Don’t volunteer information.

You’ve already provided an enormous amount of information in your board package, so why go out of your way to provide extra information that may hurt you when you’ve already been conditionally approved? You should never volunteer extra information or start extraneous conversations except for normal friendly remarks and greetings.

This is not the time to ask questions.

If you have plans to renovate the apartment, this is not the time to ask the board about it. Why even bring it up when you’re not a shareholder yet? You’ll only give the perception that you’ll be a difficult owner who will require a lot of the co-op board’s time in the future.

If the board asks whether you have any questions, just thank them and say that you can’t think of anything at the moment but will be sure to come back to them if you do.

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