OMG...we just got the forms from the Co-op board....

and they are insane. Besides all the financials from everywhere....we need:

-4 recomendations (2 personal 2 professional)
-A letter from our employer stating our salary and projected future at the company
-Letter from our banks stating avg. blances, withdrawals, deposits
-Tax forms from the past few years
-Bank statements from the last few months
-3 copies of everything to them
-Non-refundable check for about $350
-Interview

There is more...just cant think of it now...we can't believe it
... now i am getting nervous we won't get approved...what if they don't like us.

Re: OMG...we just got the forms from the Co-op board....

They also say no dogs...and nothing about cats....but I don't want to ask and stir up any ideas...so we are going to have to sneak Chloe into the apt. too. We were told everybody does that....

Re: OMG...we just got the forms from the Co-op board....

Wow that is nuts. I am waiting for the paperwork from the condo board. I am so nervous too and after hearing what they need makes me more nervous. I hope we will just breeze through this. Good Luck my fingers are crossed for you.

Re: OMG...we just got the forms from the Co-op board....

That sounds standard - everyone I know that has gone through the buying process of a co-op has to complete as much paperwork for the board as for the banks.

You are essentially becoming a shareholder in their corporation and they want to make sure you are finacially sound to meet their financial requirements.

It's a pain but in the end it's for your benefit since you will be confident that all of your neighbors have gone through the same process and are able to meet their financial obligation.

---

Posted by Chloegirl

They also say no dogs...and nothing about cats....but I don't want to ask and stir up any ideas...so we are going to have to sneak Chloe into the apt. too. We were told everybody does that....

---

We were told this too but we got some greif from the cranky pants downstairs neighbors (they are nuts and the cat was something that just added fuel to the already inferno with these people).

We ended up getting a doctors note stating that the pet was needed to relived stress and attached it to a letter quoting fair housing laws and discrimination against those with disabilities acts or something to get the board approval. Our building is no pets though.


Good luck with all your paper work.

Re: OMG...we just got the forms from the Co-op board....

We went through the same process recently. The interview was a bit nerve-wracking, but we definitely got points for handing in such well-organized applications. I put each application in a folder with a cover page for each item they requested. When I handed in our applications (we had to do so in person) the manager was bad-mouthing all the applications that were just thrown in a pile for her. I guess kissin' some a** helps even when the process is ridiculous.

Re: OMG...we just got the forms from the Co-op board....

we had to go through the same thing with our co-op...all of the paperwork and the interview....it was a pain and really stressful...but they're just making sure you're good people, which i'm sure you are!

as for the cat thing....our co-op community is filled with cats - it's the only pet they allow.....so we lucked out!

make sure you do some research on the area, and ask questions at the interview....they liked that when we did it...

Re: OMG...we just got the forms from the Co-op board....

---

Posted by mltm914

We went through the same process recently. The interview was a bit nerve-wracking, but we definitely got points for handing in such well-organized applications. I put each application in a folder with a cover page for each item they requested. When I handed in our applications (we had to do so in person) the manager was bad-mouthing all the applications that were just thrown in a pile for her. I guess kissin' some a** helps even when the process is ridiculous.

---

same thing happened to us!!
all i did was hand in all of the information they asked for...and the woman was so happy with me because i was the first one to actually have everything that day!
organization is key!

Re: OMG...we just got the forms from the Co-op board....

since we risked it and went with a new co op conversion we didn't have to go through any of that..which makes me nervous being that who knows whos going to be living there..just be happy that they check all of that out because at least you know everyone else had to go through and pass..good luck...

Re: OMG...we just got the forms from the Co-op board....

Those are standard requests. And even though it is standard to get salary history from your job... I did get a good laugh at the 'projected future with the company' part.

Re: OMG...we just got the forms from the Co-op board....

omg....... thats so much they require........we didnt have anything like that with the house, 1 month of bank statements and 1 month of paystubs..

Re: OMG...we just got the forms from the Co-op board....

Mine wants to know my credit cards and credit card numbers too... is that a little strange?

I mean, they run a credit report, why should I have to give them that too?

Re: OMG...we just got the forms from the Co-op board....

---

Posted by Danielle

Mine wants to know my credit cards and credit card numbers too... is that a little strange?

I mean, they run a credit report, why should I have to give them that too?

---

Because a credit report is usually 2-3 months behind. They want to check to see if you have taken out any additional credit or cash advances recently (say to cover a down payment - which is a big nono)

Re: OMG...we just got the forms from the Co-op board....

OOOh, that makes it seem a lot less sketchy!!

They just deposited my downpayment check... I just saw my new checking balance, and OH MY GOD I'm poor!!!