Is the Aztech Recognition Agreement usually requested prior to co-op board approval?

[qyacny]

Hello, it’s my first time applying for a co-op apartment and I’m in need of some guidance. For the past three months I went through the process of going into contract, and once the contract was signed, I provided the application to the co-op board.

The recognition agreement wasn’t specifically requested in the application package, but was requested after I submitted the packet. It was signed by myself and the lender, and I certified mailed a check for $400 as I was directed to for the recognition agreement. The process to get the recognition agreements took over two additional weeks after I had already filled the packet.

I’m being told I’m denied by my realtor, although I haven’t received any response from the board. Is the recognition agreement usually requested prior to the boards aproval?

[HauseitAdmin]

Hello, it’s my first time applying for a co-op apartment and I’m in need of some guidance. For the past three months I went through the process of going into contract, and once the contract was signed, I provided the application to the co-op board.

The recognition agreement wasn’t specifically requested in the application package, but was requested after I submitted the packet. It was signed by myself and the lender, and I certified mailed a check for $400 as I was directed to for the recognition agreement. The process to get the recognition agreements took over two additional weeks after I had already filled the packet.

I’m being told I’m denied by my realtor, although I haven’t received any response from the board. Is the recognition agreement usually requested prior to the boards aproval?

Hi Ruquaiyah – we’re sorry to hear about the delays associated with your purchase. Candidly it sounds like you may have been rejected by the board. The listing agent (and/or your buyer’s agent) are usually the first to receive informal word of the board's decision, even before the formal notice of approval or rejection is issued by the co-op and sent to your real estate lawyer.

This may explain why you're hearing this news from your realtor even though you haven't received any formal update directly from the co-op board.