I made an on offer on the coop, which the seller quickly
accepted. I was so grateful that there wasn't any back and forth negotiations. I strongly feel that both the seller and I
are getting a good deal. However, having been through this process once before,
I remained optimistically cautious. For the past two weeks I have had the coop
board application on my desk while every now and again I would thumb through it. The coop board application is nearly $500
(which is non-refundable) and I wanted to make certain that I got mortgage
application approval before submitting the documents and sent off the check.
Last year when I was working with HSBC, my mortgage application was denied in
underwriting. Today I spoke to my loan officer and he informed me that the
underwriter has approved the application. I was beyond elated. On that great
news I called my attorney and we hope to meet sometime next week to sign the
contract which means I have to continue working on that coop board application
tonight. Wish me luck.
When I started this blog a year ago, I was in contract on a two bedroom cooperative in Brooklyn, NY. I was very enthusiastic about getting the property and I started planning my design strategies. A year later after being denied by the coop board for the property, I have taken a bit of a break from my home search. I will still update the blog from time to time. However, I am less enthusiastic about the property search and haven't really seen a coop that grabs my attention like that first apartment did. There are certain things that I do not want to compromise on such as location, price and bedroom space. I haven't become a homeowner just yet but I haven't lost all hope of that happening. It just may take a longer time and I'm ok with that.
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