How Long Does Condo Board Approval Take in NYC?
Nov 12, 2023
Condo board approval typically takes around 4 weeks from the time you submit a completed
board package. Most condos typically have between 20 to 30 days to waive their right of first
refusal and approve your purchase.
Here’s where it gets interesting: while a condo cannot reject you outright without buying the
apartment, they can delay issuance of the waiver of right of first refusal if you submit an
incomplete board package.
Each time the condo requests more information, the clock usually resets. This means that a
condo could conceivably wait 30 days, ask you for more information, receive the information,
wait another 30 days, ask you for more information and keep doing this. In practice, this rarely
happens. However, it’s a good reminder that you and your buyer’s broker should proofread
your board package multiple times before submission.
Depending on a condo’s by-laws, a condo may automatically waive its right of first refusal if
they do not respond to you within a certain number of days of receiving the application.
Therefore, it’s always a good idea to send your board package by certified mail and try to
keep copious email records of when the managing agent confirms receipt of the application and when they forward it to the condo board for review.