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I started the co-op purchase application form last night. Except for a few small details, it’s fundamentally done. The application form is only one part of the package, though. Here’s the current (shockingly lengthy) to-do list for the package:

Application form

Contract of Sale

Financial statements from banks, brokerages, etc. (last two months)

Last two years of Federal tax returns, the 1040 plus any accompanying schedules

Two most recent pay stubs

A statement explaining in detail the sources of funds for the purchase of the apartment

A letter from my employer stating postion, length of employment, current base annual salary, and when that salary went into effect

Bank commitment letter, bank loan application, 3 original recongition agreements signed by a bank officer (AZTEC form only)

I’ll also need reference letters:

From the landlord/management agent

Three personal references

The signed contract of sale should be in my hands this week. The financial statements are no big deal, as I’ve just done something very similar for the mortgage application. In any case, I scan all such documents, so it’s just a matter printing them out.

I have to call the bank to see if they can get me a commitment letter sooner rather than later. I’ll also have to talk to HR at Random Walk; I think they have a standard letter for that sort of thing. The statement of financing will take about ten minutes to write.

I’ve sent email to the co-op board president about the reference letters, but haven’t heard back. In the worst case, I’ll dig up the old co-op application, mainly to get the style/form of these letters, and get people to sign them.

None of this is a big deal. It just takes time. I think if I were doing it for the first time, it’d be more intimidating, but this is the second time around, albeit the first time by myself. The real estate broker representing the seller provided a lot of help the last time.

Hopefully, this will be done in the next two weeks, so we can shoot for a quick June 1 closing.

Posted on Thursday, April 3rd, 2003 at 11:01 am and is filed under Apartment. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.