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Iheartny, Other/Just Looking in New York, NY

Does a Co-op board have to disclose the reason it rejects a buyer?

Asked by Iheartny, New York, NY Sat May 5, 2007

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Under current law, no. But an experienced agent (or attorney) can find out the reason. If you suspect discrimination you can bring an administrative hearing (at no cost & without need of a lawyer--though I would advise one) and at that hearing the Board is legally REQUIRED to give the reason. (see blog post link below)
1 vote Thank Flag Link Sat Jun 2, 2007
Under current law they do not. However there is a bill currently in the city council that will require coops to disclose in writing their reasons for rejecting a buyer. While there is much support for the bill at this time I do not know if the bill will be signed into law. See article below
1 vote Thank Flag Link Sun May 20, 2007
Mitchell Hall, Real Estate Pro in New York, NY
MVP'08
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