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I was in contract to buy a co-op contract. I submitted all of the information and materials that the board required. I believe that my financials and reference letters are stellar. I attended an interview and thought it went well. Despite all of this, I just found out that the board rejected the sale. Do I have any recourse?

Probably not. The only recourse you would have is if you could prove that in rejecting the sale, the board violated city, state or federal anti-discrimination laws. The burden would be upon you to prove this in a court of law. Aside from this, a New York co-op board can reject the sale for any or even no reason. In fact, they don’t even have to respond at all. Some co-op boards that don’t want to approve a sale will not respond for months and just wait until the deal dies and the parties go away.

Answered by:

Alexander Suslensky

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