A co-op board interview is the
final step to board approval when buying a co-op
apartment in New York City. Assuming the board conditionally
approves your application, you can expect to receive
an interview request around 30 days after you
submit your board package. If you are receiving an NYC
real estate commission rebate and working with a
seasoned buyer’s agent, you can expect your agent to
help prep you for the interview. Here are some common New
York City co-op board interview questions and
suggested answers: Do you plan on serving on the board? This question may
seem innocent enough, but be careful about
enthusiastically revealing that you plan to run for the board. Doing so can make the board members
interviewing you feel threatened. Common advice you’ll hear from experienced
buyers’ agents is to simply respond that you haven’t given much thought to
it, but that you’d be happy to help in any way if the building
wanted you to participate. Why are you moving to
a smaller apartment? This is a common question
if you are moving from a larger apartment
to a smaller one. The goal here is to simply explain
your need for less space. Perhaps you are an “empty nester” and all
of your children have gone to college. You don’t want to mention
anything about affordability. Telling the board that
you are downsizing because you can’t afford your
previous apartment’s monthly cost is a warning signal to the board
about your financial stability. Do you like what you do for work? This is not the time to complain about
the stress you feel in the workplace. This question is meant to
gauge how secure your job is. If you complain about your poor
relationship with your boss, that would be a warning sign to the
board about your job security. What are your hobbies? This is not the time to
bring up anything too weird or too disruptive to your neighbors. For example, it’s not
a good idea to talk about your passion for playing
the guitar late at night. Remember, the board is composed
of regular people just like you. They simply want to vet
that you’re a normal person and won’t be doing anything too
disruptive to your neighbors. What does your social
calendar look like? The classic advice from a good
buyer’s broker would be to say that while you enjoy the occasional
dinner at home with a few friends, your free time is otherwise spent
socializing outside of your building. The co-op board interview is
not a great time to brag about how great of a yearly birthday party
you typically throw on your roof. The board will typically let you
know whether you’ve been approved within a few days to a
week after the interview. Buying a co-op? Request a discreet New
York City real estate commission rebate by visiting www.hauseit.com.