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Thought I'd share this. A friend of mine is selling her co-op apartment in NYC via Hauseit's Agent Assisted FSBO service. Here's a great email with tips and instructions for the buyer that she sent, thought I'd share:
Hi,
Congratulations. Contracts are executed. Ms. Laurent's attorney should have a copy shortly.
On to phase 2: the board package. I sent you the application and paperwork requirements last week. I've reattached just in case. Please keep us posted on her progress gathering the materials so we can set a timeline for submission. Since the board doesn't necessarily review an application right away, there may be a delay. Hence, it's best to get it in as soon as possible.
Thoughts:
1. Please ask that she get recommendations that are written with a personal touch, not a rote form letter. This will help immensely given the board doesn't just look at finances, but the holistic picture of the person.
2. Bank statement: have her pull the statement at the latest possible moment. I'd advise she save as much money as possible between now and then. Every extra dollar counts. It would have been ideal to see a year in the bank (post close) so as close to that as she can get will help.
3. Board interview: we can go over this as she gets closer to it, but there are things to say and not to say, as I'm sure you know.
-Not planning to have people live there with her (even if she has a boyfriend/girlfriend, it's always best to leave one's personal life out of it);
-she's planning to live there herself, alone, full-time;
-no plan for renovations (which is entirely within her right to do, but just don't tell anyone about it until after you move in); and
-she works hard, loves the neighborhood, and looks forward to joining the community.
Any questions?
Thanks!
Hi,
Congratulations. Contracts are executed. Ms. Laurent's attorney should have a copy shortly.
On to phase 2: the board package. I sent you the application and paperwork requirements last week. I've reattached just in case. Please keep us posted on her progress gathering the materials so we can set a timeline for submission. Since the board doesn't necessarily review an application right away, there may be a delay. Hence, it's best to get it in as soon as possible.
Thoughts:
1. Please ask that she get recommendations that are written with a personal touch, not a rote form letter. This will help immensely given the board doesn't just look at finances, but the holistic picture of the person.
2. Bank statement: have her pull the statement at the latest possible moment. I'd advise she save as much money as possible between now and then. Every extra dollar counts. It would have been ideal to see a year in the bank (post close) so as close to that as she can get will help.
3. Board interview: we can go over this as she gets closer to it, but there are things to say and not to say, as I'm sure you know.
-Not planning to have people live there with her (even if she has a boyfriend/girlfriend, it's always best to leave one's personal life out of it);
-she's planning to live there herself, alone, full-time;
-no plan for renovations (which is entirely within her right to do, but just don't tell anyone about it until after you move in); and
-she works hard, loves the neighborhood, and looks forward to joining the community.
Any questions?
Thanks!