Unless your bylaws or other operating document dictate otherwise, how many and who should interview perspective purchasers is really whatever works best for the individual co-op. The full board definitely does not have to be present, but the interview should be more than a one-on-one unless circumstanced dictate otherwise. Some buildings have admissions committees made up of non-board members, with just a single board member as the chair.

The size of the building and the turnover rate are two important factors. If you have hundreds of units and there is a contract signing on a weekly basis, the interviews should be shared by all board members or handed off to a dedicated committee. If your building has only 10-20 units and you have one or two sales a year, then it can be as many board members can attend.

Try to have all of the financial questions resolved *before* the interview. That way, if you decide to reject the purchasers because of finances you don't waste their time and yours, and you also avoid potential charges of discrimination based on appearance, personality and other perceptual traits.

The interview should be a friendly and informal getting-to-know-you meeting for both the board and the purchasers. In our building (73 units), we try to schedule interviews as soon as possible after the financial package is received. We do not wait for the monthly board meeting so as to accommodate mortgage rate lock expiration. We have a seven member board, and we usually have 3-4 members at the interview. Remember that the purchasers are usually very nervous at the interview and whatever the board can do to put them at ease gives them a much better feel about the building community, which carries over after they close.

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