If you’re looking to buy in a New York City co-op, the board interview is just as important as your financials. With the right preparation, you can ace your interview.
Here are Platinum Properties’ tips and tricks on how to present yourself as an optimal new member of the community:
- Before meeting with the board members, be sure to review your application thoroughly and be completely familiar with it, especially the financial statement. Also, be familiar with the house rules.
- Dress conservatively, as for a job interview.
- Be your own friendly, smiling self. The board members have already seen your financials, now they want to get to know you as a person.
- Answer questions directly and briefly, without elaborating (unless necessary). Do not offer more information than is asked for. In other words, be friendly, not chatty.
If you don’t have the answer to a particular question, possibly concerning your financials, say that you will provide the information (through your agent, to the management company).
Board members will ask if you have questions. Do not ask financial questions, such as “are any assessments coming up?” or “when is the next maintenance increase?” Likewise, do not ask when they’re likely to renovate the outdated lobby!
It is a good idea to have a question or two prepared, such as: “What are the hours for the laundry room? Gym?”
Couch a question or two in a complementary context. For example: “I really admire your garden. Who takes care of it?” Or, “The building is always so spotless. Does the super clean it all, or does he/she have help?”
Also, ask if there are any tenants’ committees. This shows your interest in the building and its community.
Before the interview, here are some common board questions you can prepare answers for:
You may have to wait a few weeks for the board’s decision, though some co-ops will get back to you in a few days. Some lucky buyers are given the thumbs-up at the interview!
Preparing for a board interview can be a complicated process, but with a Platinum agent on your side to coach you, you’ll be in good hands!
- financial district
- for sale
- How to Guides
- Moving Guide
- Moving Help
- Moving in NYC
- new york
- new york city
- new york city real estate
- NYC living
- NYC Real Estate
- Platinum Properties
- Platinum Properties
- platinum properties
- real estate
- real estate agent
- real estate agents
- real estate market
- Saving Money