You’ve heard the rumors about co-op board packages, and they don’t exactly make you want to rush out and buy Rego Park co-ops. Mountains of paperwork, reference letters, applications that get a bit too personal…It all sounds pretty intimidating!
Unfortunately, if you eliminate Rego Park co-ops from your real estate search, you are missing out on some of the most desirable properties in Queens. We don’t want that to happen! Today we are going to tell you how to wow co-op boards with your board package. Here are a few of our favorite tips:
Tip #1: Be timely.
Your board package might be due as soon as 10 days after you sign a co-op purchase contract. If you’re pretty sure that your quest for a Queens home will conclude with a co-op, it’s smart to collect some of your required financials early. Most Rego Park co-ops require two years of tax returns, multiple reference letters and financial statements for all accounts.
Tip #2: Be organized.
If you’re assembling a board package for Rego Park co-ops, you’ll probably have a checklist to follow. Collect all of the information on the list and organize it in the order requested. You’ll get bonus points if you include a table of contents and a cover letter listing the most critical information in the package.
Tip #3: Be honest.
You can probably already guess that most co-op boards will not-so-kindly show you the door if you tell an outright lie on your application, but guess what? Omitting required information makes them suspicious also. If you must leave something out, you need to explain why in your package.
Tip #4: Be accurate.
Double- and triple-check your board package with your own eyes. When you’re done, have your real estate agent, a lawyer and any other real estate professionals experienced in Rego Park co-ops put their eyes on it also.
If you follow this advice, you’ll see that Rego Park co-ops are an affordable way to enter New York City’s dynamic real estate market! Get in touch with Rego Park Realty today to see what’s available.