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Rainmaker
1,529,574
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

This question was just asked, please see my previous answer.

Feb 04, 2017 01:18 AM
Rainmaker
2,219,617
Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Thank you Kenneth J. Jones  I knew this question has been asked before and there are numerous blogs written about it.

Feb 04, 2017 05:21 AM
Rainmaker
5,096,166
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Another question that has been asked and answered again and again and again. In a coop you buy share and not real estate and a coop board has the right to reject the purchase. Very few markets have coops in any event so the liklihood of your having to explain this to someone is not high.

Feb 04, 2017 04:01 AM
Rainmaker
1,619,091
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Are you asking because you want to know or because you have to post a question? 

Feb 03, 2017 08:12 PM
Ambassador
5,032,556
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Legally they are different ways of holding ownership.  I would defer to Kenneth J. Jones  on this. It's an important financial decision

Feb 03, 2017 08:07 PM
Ambassador
6,352,545
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Need to understand that only one of these is a purchase of Real Estate.

 

Feb 05, 2017 09:30 PM
Rainmaker
1,498,148
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

For sure different check boxes on the listing!  Never sold a co-op so couldn't tell you.

Feb 04, 2017 01:27 PM
Rainmaker
634,482
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

A condo is real property. A coop is a share of a company that owns property.

Feb 04, 2017 11:20 AM
Ambassador
3,339,049
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Nothing else to add to this when Kenneth J. Jones has it covered.

Feb 04, 2017 10:28 AM
Rainmaker
897,818
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

These are all facts, not opinions, which means you should be able to look them up. Plus, this question came up MANY times in this very section. Just be careful what you read. For example, co-ops DO get financing.

Feb 04, 2017 09:08 AM
Rainmaker
1,617,866
Harry F. D'Elia III
WEDO Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

never had a pleasure

Feb 04, 2017 09:03 AM
Rainmaker
4,434,127
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Others have answered 

Feb 04, 2017 07:41 AM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

The biggest difference is in the form of governance and the approval process.

Feb 04, 2017 07:26 AM
Rainmaker
1,712,551
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

We don't have coops.

Feb 04, 2017 06:39 AM
Rainmaker
5,190,916
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Like following Kenneth Jones! He has the answer!

Feb 04, 2017 06:19 AM
Rainmaker
7,788,054
Roy Kelley
Retired - Gaithersburg, MD

A cooperative is not real estate. You are selling ownership shares and need to follow the rules for the building.

Feb 04, 2017 05:33 AM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Kenneth J. Jones nailed this one!

Feb 04, 2017 03:51 AM
Rainmaker
4,319,419
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Kathryn Murdock - good answer from Kenneth J. Jones.

Feb 03, 2017 11:18 PM
Rainmaker
3,988,007
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Get copies of the restrictions and rules and present to the buyer. They will explain everything.

Feb 03, 2017 07:49 PM
Rainmaker
1,157,785
FN LN
Toronto, ON

One difference is that some of the forms are different.

Feb 03, 2017 06:22 PM
Rainmaker
4,272,424
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

We don't have co-ops!

Feb 03, 2017 05:50 PM
Ambassador
2,679,049
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 See the answer from Kenneth J. Jones 

Feb 03, 2017 04:58 PM
Rainmaker
4,973,088
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Kenneth J. Jones once again has a good answer!

Feb 03, 2017 04:41 PM
Rainmaker
1,237,270
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Disclosures and forms may be different. That is what your future broker is supposed to show you.

Feb 03, 2017 02:58 PM
Rainmaker
2,168,165
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Lack of financing options for co-ops

Feb 03, 2017 02:46 PM
Rainmaker
5,772,353
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Kathryn,

What Kenneth J. Jones said.  A

Feb 03, 2017 02:09 PM
Ambassador
2,160,819
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

What Kenneth J. Jones said.

Feb 03, 2017 01:38 PM