Throw common sense and logic out the window. When you're mired in bureaucracy, there is little you can do.
So how does this pertain to real estate transactions?
First and foremost; real estate management companies are "the" poster child of bureaucracies. Multi-dwelling condos and co-ops are almost always managed by one of these outside real estate management companies. Among other things, they handle building expenses, collecting rents, common charges and/or maintenance fees, keep the books for the building and file paperwork with the city and other agencies. They are also instrumental in the approval process for sales and rentals. This sales/rental process is where the owner/seller/buyer/landlord/renter interacts with the management company directly.
Management companies generally do not share your concern for whether or not you have a roof over your head. If you are missing page 37 of document XYZ, your purchase/rental application will most likely be put on hold and work stops. If you're lucky, you're told of the problem. It's just as likely that when you haven't heard back from them in two weeks and call for a status report that only then will you find out that it was shelved weeks ago.
Anecdotes like the one above are not exaggerations, nor are they uncommon. Problems arise when clients refuse to accept that this can happen to them. "After all, if I'm spending $2,000,000 on this condo they should understand that a $47 discrepancy on my credit report is not important!" Well, yes you're right. And no, you're wrong. It's not common sense that rules the day, it's bureaucracy. The person processing your paperwork is more than likely an overwhelmed minimum wage employee with absolutely no discretion whatsoever in interpreting the "Big Picture". He or she has no concept or concern over "shades of gray".
So what is the answer? The answer is to not put yourself in a situation (if possible) where your paperwork is incomplete or sloppily submitted. Furthermore, you should allocate a sufficiently generous block of time (if possible) for the management company and/or board to review your paperwork.
This is classic example of why who you choose as your broker matters. This is grunt work, but it's critical to the success of your transaction. If your broker does the best job possible assembling your paperwork and couples it with polite, non-threatening communication with the management company, your chances of success will be greatly maximized.
Reach me at: michael.sussilleaux@gmail.com
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