The last few months, I have had an inordinate amount of inquiries from prospective purchasers of co-ops and condos, as to what the management as well as the co-op boards are looking for in income, credit scores and most important debt/income ratios (all your debts over your income, provides a ratio, that many or most boards will take into consideration in the approval process).  Usually, condos don’t have a formal approval process, but a cursory process and application, but generally do not turn buyers down; otherwise many times the right of first refusal, provides the condo to purchase the unit, but they generally do not and waive their right of first refusal.     Read the article……………………