Demystifying reasons for co-op rejections

Those rejected by co-op boards for no stated reason may soon be able to find out why. The New York State Association of Realtors and the Manhattan Association of Realtors are drafting a bill that, if passed by the City Council, would give co-op boards six weeks to act on an application and to require the boards to provide a reason for rejection. If the boards don’t act on applications in six weeks, under the proposed bill, buyers would be automatically approved. more [New York]

Sign Up for the undefined Newsletter

By signing up, you agree to TheRealDeal Terms of Use and acknowledge the data practices in our Privacy Policy.