Writing Effective Reference Letters

A few thoughts on writing effective reference letters prepared for your (co-op) Purchase Application, also commonly referred to as your Board Package.

Board members will simply be looking for any and all indications that an applicant (and prospective neighbor) will enhance the building's congeniality and reputation. Language that reassures them of your financial and civil strengths is desired. The Board knows it will come back to bite them if they allow someone that is a financial detriment and/or a rude neighbor to get through the process. Boards also like to see evidence of responsible, considerate, reliable, trustworthy, and admirable behavior. People that can cite long-term relationships with you are good candidates to approach for references. All easy items for you I'm sure.

Reference letters should be originals - not copies. If personal reference letter writers have personal letterhead, that's great, but not required. Business reference letters should be on company letterhead. Letters should be made out to the Board of Directors or Members of the Board (e.g., Dear Board of Directors or Dear Members of the Board) and not addressed to "To Whom It May Concern". Lastly, all letters must be signed.

Typically, a board package must be submitted within ten (10) days of receiving an executed contract. However, if the requirements for sale include presenting a copy of the loan application and commitment letter with the board package, the board package typically must be submitted within three (3) business days of the earlier of (i) the Loan Commitment Date or (ii) the date of receipt of the Loan Commitment Letter.