Buyer's Guide & Checklist

                                  Helpful hints for completing your board package
                                  In order to review a potential purchaser, the Board of Directors reviews
                                  extensive information from the buyer in what is called a Board Package. Most
                                  coop boards typically request financial disclosure with supporting
                                  documentation, employment history, current salary, personal and business
                                  references, tax returns and credit history. The following tips will be helpful in
                                  preparing your board package.

                                  Review the application and its requirements with your broker. Your broker will
                                  assist you in the collecting and assembling of your board package.
                                  Complete the application in its entirety
                                  Clearly and concisely answer all the questions
                                  Submit only the materials that have been requested
                                  Be sure to have reference letters written on either business or personal
                                  letterhead

                                 Helpful hints for your board interview
                                  The interview provides the board with the opportunity to meet you and discuss
                                  your application in further detail. Board interviews can range from an informal
                                  meeting to a formal interview. The following tips will help you prepare.

                                  Review your application prior to the interview
                                  Prepare yourself for a wide range of questions from personal to financial
                                  Couples should decide in advance who will answer which types of questions
                                  Arrive promptly and dressed appropriately
                                  Clearly and concisely answer all questions. Avoid providing information that is
                                  not directly asked of you.
 

                                  GimmeShelterNYC's Buyer Checklist
                                  Evaluate your budget - know what you want to spend for a down payment as
                                  well as monthly expenditures (ie: maintenance or common charges and real
                                  estate taxes, monthly mortgage payment, utilities, parking, etc)

                                  Obtain mortgage pre-approval

                                  Prioritize your needs - space, light, views, building amenities, etc.

                                  Identify your timeline for moving

                                  Select an attorney who specializes in New York City Real Estate

                                  Explore different neighborhoods to identify your preferred needs

                                  Research schools in the selected neighborhood(s) if children are involved

                                  Evaluate access to transportation in the selected neighborhood(s)

                                  Evaluate building amenities and house rules in terms of your needs (ie;
                                  washer/dryer permitted, gym in building, pet policy, storage facilities, etc.)

                                  Once apartment has been selected, review building financials with your
                                  broker/attorney

                                  Work closely with your broker to gather support materials for you mortgage
                                  application and Board Package