Demand a complete REBNY Financial Statement with every offer and verify two critical metrics: Debt-to-Income ratio (most Manhattan boards require 25-30%) and Post-Closing Liquidity (typically 12-24 months of mortgage and maintenance in liquid assets after closing). Cross-reference income sources - W-2 salary is far safer than freelance income in board evaluations. Never rely solely on a lender's mortgage pre-approval.
From the seller playbook: Board Risk Mitigation Strategy for Co-op Sellers
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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