Go beyond the pre-approval letter. Demand a REBNY Financial Statement with every offer and analyze four dimensions: debt-to-income ratio (target below 25% for buffer), post-closing liquidity (12-24 months of carrying costs in liquid assets), income stability (W-2 salary is far safer than freelance income for board approvals), and lender quality (local NYC mortgage banks outperform out-of-state internet lenders in co-op transactions).
From the seller playbook: Filtering Buyer Pool Depth and Liquidity Silos
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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