Asked and Answered
The Managing Agent called and it looks like my finances will not be sufficient to get Board approval. Is there anything I can do?Yes. As they say, it's time to call a life line…mom and dad. If the co-op allows parental guaranties, parental co-purchases or maintenance security deposits, the primary way to shore up finances with a co-op Board is to involve your parents in the purchase. If your parents become “co-purchasers” that will require them to submit a full board package in most cases and it may require a Board interview. Although you had hoped that purchasing an apartment would allow you to finally cut the cord, looks like your parents will be there one more time to bail you out of a jam…again...