The standard co-op contract requires the submission of the Board package within 10 business days after the fully executed contract is returned to the buyer. The Board package consists of a number of annoying documents, including personal and business reference letters that sometimes can be difficult to obtain in the required time. Despite the best efforts of many buyers, complying with that 10 business day requirement is difficult. What is important however is to show good faith in your efforts to submit your documents, even if they are submitted a little late. If you are subsequently rejected by the Board and the seller seeks to use the fact that you submitted your application late in order to declare you in default of the contract , the likely outcome will be in your favor provided you made a good faith effort.
The Law Offices of William J. Reinhardt,Jr. is available to represent buyers and sellers of co-ops and condos in New York and New Jersey. Call 718-377-8880 or send an e-mail to [email protected] to arrange for a free consultation.
"My name is Emilio. When I was buying my property, I hired Mr William J Reinhardt Jr as my Real Estate Attorney, it was one of the best decision I ever made because he did everything in his power to make sure my purchase was successful. For example, The utilities bills left over by the person who owned the property before me. I said thank you to Bill for not allow me to pay these costly bills." - 5.0 stars | Posted by Emilio Bien Aime | October 1, 2019
"Mr. William Reinhardt Jr. is my lawyer for many years. My family and I bought and sold properties with his help and were very satisfied. I recommend Mr. Reinhardt to anyone. I give him a 5-star review." - 5.0 stars | Posted by Diana | September 19, 2019
"My husband and I loved working with William. He was very professional, efficient and went above and beyond to help us. We would HIGHLY recommend." - 5.0 stars | Posted by Leeann | September 13, 2019