Board approval is the single biggest variable in a co-op sale. Boards can reject buyers without explanation, and the review process alone takes 8-12 weeks. A rejection destroys your listing's momentum and wastes months of carrying costs. This means the highest offer is meaningless if the buyer can't pass the board - you must vet every buyer's financial profile against your building's specific thresholds before signing a contract.
From the seller playbook: Co-op vs. Condo Strategic Differences
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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