Preparing for a Co-op Board Interview

As most prospective co-op buyers know, boards can reject a candidate for any reason.  And each one operates differently. Some boards meet prospective buyers only after they have decided favorably on their application. Others use the interview as the time to scrutinize both the financials and the prospective buyers themselves. If you’ve worked with a professional real estate agent throughout this process, all should be in order: the building has been fully vetted for buyer requirements, and your board package is organized and complete.  Meeting with the board will be the final step, with the purpose of allowing board members to meet and get to know their prospective neighbors.

 

In preparation for this all-important meeting, below are some tips to keep in mind:

 

  • Dress conservatively. Business casual and minimal jewelry and perfume.

 

  • Be on time, or better yet, be early.

 

  • Be prepared for personal questions. Handle them without being defensive. They just want to be comfortable that you’ll be a great neighbor.

 

  • Be familiar with your complete board package, specifically your financial statement. Be prepared to answer any questions concerning your financial picture.

 

  • Don’t ask questions, especially ones that should have been answered prior to signing the contract, such as about the building and its financials. This is your interview, not theirs.

 

  • Do ask one or two questions that show that you have read the rules of the co-op. Your neighbors will want to get to know you as a good neighbor, both in terms of understanding the rules and in terms of respect for the building as a community.

 

  • Discuss any “issues” with your agent before you arrive. And if two or more people are being interviewed – don’t contradict or interrupt each other.

 

  • Don’t discuss renovations that you plan on doing unless you are asked about them, then downplay the extent of the work you intend to do.

 

  • Don’t offer any personal information that is not requested.

 

  • Don’t expect a decision on the spot. More often than not, a review by the whole board must be made. Your agent or the building management company will inform you of the board’s decision – often within a day or two.


Don’t ask questions, especially ones that should have been answered prior to signing the contract, such as about the building and its financials. This is your interview, not theirs.

 

  • Do ask one or two questions that show that you have read the rules of the co-op. Your neighbors will want to get to know you as a good neighbor, both in terms of understanding the rules and in terms of respect for the building as a community.

 

  • Discuss any “issues” with your agent before you arrive. And if two or more people are being interviewed – don’t contradict or interrupt each other.

 

  • Don’t discuss renovations that you plan on doing unless you are asked about them, then downplay the extent of the work you intend to do.

 

  • Don’t offer any personal information that is not requested.

 

  • Don’t expect a decision on the spot. More often than not, a review by the whole board must be made. Your agent or the building management company will inform you of the board’s decision – often within a day or two.

 

 

 

 

 

 

Erica Rose Siegel on October 2, 2017 at 09:57pm
Dolores! This is fantastic! I always prep my buyers with a "mock interview" and I will be sure to share this with them as well!!
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