1,250,063
Ultimately, the space lives the same way. But in a condo, you're purchasing the actual space whereas in a co-op, you're buying shares of the corporation.
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Quinn Eliason
Orem, UT
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Heather Zollinger
St. George, UT
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Kathleen Daniels, Prob...
San Jose, CA
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Tony and Suzanne Marri...
Scottsdale, AZ
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Roy Kelley
Gaithersburg, MD
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Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
3,988,013
Cooperatives owners can vote to let others buy in or not. It is a bit exclusive.
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Quinn Eliason
Orem, UT
-
Heather Zollinger
St. George, UT
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Fred Griffin Florida R...
Tallahassee, FL
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Anthony Acosta - ALLAT...
Atlanta, GA
-
Roy Kelley
Gaithersburg, MD
-
Nina Hollander, Broker
Charlotte, NC
2,684,769
Hippies buy co-ops, retirees buy condos.
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Quinn Eliason
Orem, UT
-
Roy Kelley
Gaithersburg, MD
-
Nina Hollander, Broker
Charlotte, NC
-
Debe Maxwell, CRS
Charlotte, NC
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Nathan Gesner
Cody, WY
5,117,818
A coop is not real property. It is buying shares in a privately held entity. This question has been posed more times than I can think. Lots of good previous answers in AR.
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Heather Zollinger
St. George, UT
-
Fred Griffin Florida R...
Tallahassee, FL
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Roy Kelley
Gaithersburg, MD
3,864,991
When buying a coop, you receive a proprietary lease and are purchasing a specific number of shares. In the coops I have sold, there is no financing...must be cash and you must get board approval.
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Heather Zollinger
St. George, UT
-
Fred Griffin Florida R...
Tallahassee, FL
-
Roy Kelley
Gaithersburg, MD
-
Nina Hollander, Broker
Charlotte, NC
7,872,766
A cooperative is personal property, a share of the ownership, and not real estate.
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Heather Zollinger
St. George, UT
-
Kathleen Daniels, Prob...
San Jose, CA
-
Anthony Acosta - ALLAT...
Atlanta, GA
902,658
Selling is the same; it's the legal structure of the ownership's that's different.
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Heather Zollinger
St. George, UT
-
Roy Kelley
Gaithersburg, MD
-
Nina Hollander, Broker
Charlotte, NC
1,712,876
Since we don't have cooperatives in Oklahoma City we don't face that issue.
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Heather Zollinger
St. George, UT
-
Roy Kelley
Gaithersburg, MD
-
Nina Hollander, Broker
Charlotte, NC
2,222,281
Selling the property is the same, the ownership is different.
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Heather Zollinger
St. George, UT
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Anthony Acosta - ALLAT...
Atlanta, GA
1,157,791
Some of the forms we use are different.
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Heather Zollinger
St. George, UT
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Roy Kelley
Gaithersburg, MD
5,259,142
Exactly what Margaret Goss said!
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Heather Zollinger
St. George, UT
-
Roy Kelley
Gaithersburg, MD
1,555,250
Your selling an interest vs. a % ownership and what Margaret Goss said.
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Heather Zollinger
St. George, UT
-
Roy Kelley
Gaithersburg, MD
599,734
I think I like the answer from Fred Griffin the best!
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Roy Kelley
Gaithersburg, MD
-
Fred Griffin Florida R...
Tallahassee, FL
6,426,300
Only the second one is the sale of Real Estate, the first is a stock certificate and a lease.
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Heather Zollinger
St. George, UT
-
Roy Kelley
Gaithersburg, MD
1,525,616
I am glad you asked and Margaret answered.
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Heather Zollinger
St. George, UT
-
Roy Kelley
Gaithersburg, MD
5,036,085
Margaret Goss ..perfect answer to the question.
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Heather Zollinger
St. George, UT
-
Roy Kelley
Gaithersburg, MD
5,583,328
ditto to what Margaret said....
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Heather Zollinger
St. George, UT
-
Roy Kelley
Gaithersburg, MD
4,319,873
Heather Zollinger - well, different rules, regulations, guidelines and permissions, too.
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Heather Zollinger
St. George, UT
3,986,308
They are very simalar in many asppects
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Heather Zollinger
St. George, UT
1,625,735
Financing is harder to get and the buyer have to be approved by community( at least, in here).
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Heather Zollinger
St. George, UT
2,224,473
We have very few condos and no cooperatives in my market. I can't answer your question. Good luck.
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Heather Zollinger
St. George, UT
4,800,132
The ownership and approval process are the biggest differences.
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Heather Zollinger
St. George, UT
3,350,774
Margaret Goss has this one covered ... she explains it so well.
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Heather Zollinger
St. George, UT
2,190,382
As an agent, not so much different. It is a different type of ownership and the buyer needs to understand the ownership position.
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Heather Zollinger
St. George, UT
4,272,984
I do not know my area doesn't have Co-Ops...
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Heather Zollinger
St. George, UT
5,247,590
Shares in a corporation versus fee simple title in real estate. One is easy to finance and one not so much! One is easier to sell!
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Heather Zollinger
St. George, UT
1,466,257
Heather Zollinger A coop is owned by a corporation where tenants purchase shares in the corporation. A condo is owned fee simple by the purchaser. Should a coop default every tenant in the building is at risk. Should a condo default only the condo owner is at risk.
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Heather Zollinger
St. George, UT
1,617,916
4,434,177
2,195,834
443,156
There be challenges at resale when the new buyer needs to be approved by the Cooperative, where selling a condo does not allow any input from the residences. I often see higher HOA fees, in part due to many in my area including utilities.
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Heather Zollinger
St. George, UT
3,071,589
5,773,392
74,695
Hi Heather... we have a guide on our website that explains the difference between condo vs co op.
817,953