Hi i'm Jeremy, with the Thrive Real Estate Team at Compass. This is How to Buy a Home in New York City. Purchase application or more commonly known as a board package.
Basically your board package is just telling a story whether you're doing a condo or a co-op, both of them need a board package one of them is a little bit more thorough but none of them are anything to be afraid of. There's three main parts: financial, professional and personal. With the finances you want to make sure that you're exactly matching your statements to the revenue statement that you provided, that is most up to date so basically then it's a hurry up and wait. You've got 30 to 60 days from submitting the board package to getting to the approval and moving into the closing process.