Practical Tips for Passing Your NYC Co-op Board Interview

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The co-op board interview is the final step before being permitted to close on a co-op apartment in New York City. I'm Nick from Hauseit and in today's video we will demystify the topic of a co-op board interview and give you some actionable tips as a buyer on how you can increase your likelihood of being approved by the board. If you're not familiar with the Hauseit platform, we are New York City's largest For Sale by Owner and Buyer Agent Commission Rebate company.

To learn more about ways to save money when buying and selling real estate in New York check us out at https://www.hauseit.com So when does a co-op board interview happen during the life cycle of a typical purchase process? Fortunately the co-op board interview is the final stage prior to being approved and hopefully closing on a co-op apartment. What this means is that you will have already submitted your co-op board application.

Furthermore, the board members themselves will have already reviewed the application and generally speaking be okay with your candidacy. Technically, being called for a co-op board interview means that you have been conditionally approved for the purchase. The ultimate goal for the board during the interview itself is just to make sure that you are similar to your application and there's nothing wildly different about you in person as opposed to what you've actually written about yourself or submitted as part of the application. So a co-op interview is very different from a job interview. Keep in mind in a job interview you are competing for the only job available.

Therefore, you really need to hit it out of the park when it comes to the quality of your answers, the information you provide, how you dress everything matters because you are swinging for the fences. When it comes to a co-op interview on the other hand the objective again really is for the coop just to make sure that you're the same person that they read about in the application.

Therefore you don't need to swing for the fences. There are no other candidates who are possibly going to take away your apartment. Therefore the main tips when going to a co-op board interview consist of the following: answer questions in a concise and succinct matter. You need to be honest when you answer questions but you certainly should not belabor an answer or provide any additional information that takes you off topic.

However tempting it might be to try to build additional rapport seemingly by adding more information to your answers so again you want to be very transparent very direct and very honest when answering questions. Furthermore if asked whether or not you have any questions at the end of the interview this is something you should absolutely say no to. In fact it's customary for there to be no questions from the applicant at the end of a board interview. Some very easy ways to automatically be rejected or by asking any of the following questions at the end of the interview.

When will I be approved? Who do I submit my renovation plan to? Are you planning on doing any work to spruce up the lobby? When can I move my grand piano into my living room? As you can see the co-op board interview is largely a test of your ability to follow protocol and be humble in a controlled environment for only 30 minutes or an hour.

A board interview itself can take place pretty much anywhere. In some cases it could take place in the apartment of an individual owner. It could take place in a nearby restaurant or a bar and in some cases it could take place in the lobby or even in a room in the basement, so it's very flexible as to where the interview is going to take place. As to who will be there, it's usually multiple members of the board but in some cases it could just be one individual and in the most flexible buildings the interview itself could actually feel more like an orientation as opposed to a grueling interview. They might just tell you a bit about the building and how things work when you move in.

The board interview is very simple. Just make sure that you're on time, that you are aware of everything in your board application. Being invited to a board interview is great news it means that you've been conditionally approved and the board members like what's in your application, so just remember when you're in that interview to be succinct with your answers, to be honest, don't volunteer unnecessary extra information and resist the temptation to ask any questions whatsoever at the end of the interview.

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