Turn around time to see a co-op board?

Started by anonymous
almost 11 years ago
Discussion about
I'm trying to purchase into a co-op, have secured my mortgage, and completed my board application. My application package was sent over to the board the first Tuesday back after Memorial Day weekend. The problem is, I don't know what to expect since my realtor hands me a different story every time I talk to him. "They're going to love you/they're not going to want you." "You're too poor to live... [more]
I'm trying to purchase into a co-op, have secured my mortgage, and completed my board application. My application package was sent over to the board the first Tuesday back after Memorial Day weekend. The problem is, I don't know what to expect since my realtor hands me a different story every time I talk to him. "They're going to love you/they're not going to want you." "You're too poor to live there/you have plenty of money to live there." "Calm down, they only just got your package a week ago/They've had your package for a few weeks, so we should hear any day." It's like a merry-go-round, except far less merry. If the package is basically fine, what could my potential timing be for this? My realtor has consistently dragged his heels - when I went into contract, my lawyer said that my closing date would likely be around mid-May, with a targeted move-in date of late June or early July. We're heading towards late June now, and there's no sign that the board will see me. I guess my first question is (at the risk of sounding negative) - if they reject me or don't want to interview me, will they at least let me know right away? If something's going wrong, I know there isn't a lot I can do about it, but I'd rather move along to something else sooner than later. My realtor doesn't want to follow up with them. He seems to be intimidated by this board, so he doesn't want to pressure them. But "not pressuring them" also means - for him - not following up at all. I think he's contacted the listing agent once on my behalf, and that was about it. So since I'm new to this (it's my first time ever buying property after renting for 25 years), I don't know what to expect. Since I've been given so many conflicting and varying answers from my realtor, I don't know what to think about anything he tells me. Thanks for any light you can shed on this situation. [less]