A client of mine is putting the finishing touches on his board application for a co-op in Manhattan’s Chelsea neighborhood. The package is more involved than most in that it asks not only for his loan application and loan commitment letter but also the appraisal ordered by his banker.
Moreover, since the father of my client (who is just out of graduate school and about to start his first permanent job) is co-signing the mortgage loan, the application also requires yet another set of financial information and supporting documents.
That makes one big package, but I am not tearing our my hair at this point, even though assembling and copying such an application – which will run inches thick – is perhaps the most tedious and dreaded part of my responsibilities.
Why not? The answer is this:
This particular co-op requests just a single original plus everything else scanned electronically.
To my mind that process is eminently more sensible and greener than, as far as I know, the antediluvian one that virtually all other boards have adopted.
What a great way to save on labor and paper!
Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022