By: Jay Romano
September 21st, 2012
Q: Can a co-op board reject a purchase application before interviewing the prospective buyer?
A: Adam Leitman Bailey, a Manhattan co-op and condominium lawyer, says boards may, and frequently do, reject purchase applications without interviewing the prospective buyer.
“If the board has determined that it will not approve the sale based on the information provided in the purchase application itself,” Mr. Bailey said, “there is no reason to have an interview.” Noting that the application contains information on the buyer’s financial status, he added, “The board need not provide its reason for the denial.”
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