Yes. Financial wealth alone does not guarantee approval. Boards reject buyers for disorganized applications, litigation history, business bankruptcies, lifestyle incompatibility with building rules, and volatile income sources - even if net worth is substantial. The board is protecting the building's long-term stability, not just verifying wealth. Administrative competence and cultural fit matter as much as numbers.
From the seller playbook: Board Package Strength Modeling for Co-op Sales
This is general information, not legal, tax or accounting advice. Every situation is different. Talk to a licensed attorney, accountant or tax professional before you act.
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