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hey there this is jacob wood with douglas element real estate now one of the most infamous differentiators between a new york city purchase and that anywhere else in the country is the co-op board application package two-thirds of the purchase inventory in the city is cooperative and all of those are going to involve a co-op board package which is basically a collection of bank statements tax returns pay stubs w-2s 1099s reference letters and signature on a bunch of waivers it is arduous it can feel invasive it is commonly frustrating and we just grin and bear it and go through it taking solace in the fact that all our fellow shareholders had to go through it and at the end of the day it is what helped so one of the things that helps keep the co-op market more stable than condos and certainly more stable than houses in the rest of the country now the first thing were going to want to do once we get in contract is apply for a loan if our deal includes a loan postcoded loan confirmation