For many Westchester County prospective co-op buyers, the board interview is the most daunting part of the entire home buying process. You have made it through;
How To Ace Your Coop Board Interview
For many Westchester County prospective co-op buyers, the board interview is the most daunting part of the entire home buying process. You have made it through several challenges, including searching for and selecting a home, negotiating a price and terms, conducting an inspection, signing a contract, and working with a lender to get your mortgage commitment. Yet, you still have to secure board approval in order to Purchase yourhome.
Below are a few tips to help you shine during your co-op board interview and get one step closer to the closing table:
1) Arrive Early. Since weather and traffic can be unpredictable,allot extra time to get totheappointment. As the saying goes, “Better an hour too soon than a minute too late!” Board interviews usually take place in the building’s meeting room, but sometimes a board member will host the interview in his or her apartment. Determine where, when and with whom you are meeting and have a contact number in case you need it.
2) Be Prepared. Although the management company has already reviewed your application and shared it with the co-op board, bring a copy with you. Board members may have questions about your application. If you have your own copy, you can easily reference it during theinterview.
3) Dress Appropriately. You only have onechanceto makea good first impression. Dress as if you were going on a job interview. Although board members should not discriminate against you based on how you look or what you wear, you want to present yourself in the most favorable light.
4) Be Conversational. Although it’s called a board interview, think of it as a conversation between you and your potential neighbors. Be friendly, natural, and honest. Consider your answers before speaking and limit your responses. If the board wants more information, they will ask for it.
5) Show Enthusiasm. The board wants to know why you selected this building. Express what you like about it and how excited you are about the opportunity to live there. Remember: these individuals chose to live in the building or complex and to serve on the co-op board. Clearly, they value where they live and want to make sure that anyone who moves in appreciates it, too.
6) Ask Questions. Now is your opportunity to ask the board questions – even if you think you know the answers. For example, you may want to ask the name of the superintendent and the hours he/she works or the restrictions on moving-in day. Most board members will be happy to answer your questions.
7) Express Your Thanks. Board members are volunteers who take time out of their own busy schedules to conduct these interviews. Show your appreciation for the time they spent with you.
Keeping these tips in mind will give you confidence and help you ace your co-op board interview. Best of luck!
Since I was a small girl, I have always believed in the words written by Laura Ingalls Wilder: “Home is the nicest word there is.” I have childhood memories of going for Sunday rides in my family....