The past two years there has been an on going debate about a bill that would require co-op boards to fully disclose any board denials that they enforce for whatever reason. This is always focused on the Manhattan co-ops, but truth be told, I have seen alot of co-op boards denying applicants in the Whitestone, Beechhurst, Flushing and Bayside area.
"If it were to pass, the bill would shine a brighter light onto the inner workings of New York City's powerful co-op boards, which were first required to begin disclosing sale prices in 2006.
The boards have long served as a point of intimidation for potential buyers, and real estate brokers say they coach their clients for interviews before the boards, picking out clothes, and narrowing down items to talk about."
Any thoughts? Have you been denied by a co-op board or is there anyone that you know that has been denied. I am interested in hearing some stories.
I TOTALLY UNDERSTAND...WHEN WE SOLD OUR CO-OP IN YONKERS IT TOOK 5 BUYERS TO FINALLY HAVE ONE APPROVED BY THE BOARD! OF COURSE WE WOULD NEVER BE TOLD THE REASON AND COULD NOT DO ANYTHING ABOUT IT!
Neal was right about the problem with condos, I would love to see a national bill that covers co-ops, condo's and HOA's that would require reasons for actions. Sometimes it is simply who is on the boards and who does not like who! Nice post, more should find it.
I just heard the craziest coop board story. A building on the upper west side had board members suprise visit the buyer's current apartment so they can see how the buyers live.
This same building made a couple that had grown married children living in California fly in their kids because the board wanted to interview them too.
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Once again I remember this in the coop I used to live at on Middle Neck Road!
Don't feel bad...we still have the same problem here with condo approvals. No reason needs to be given for denial.