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This question was just asked, please see my previous answer.
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Thomas J. Nelson, REAL...
La Jolla, CA
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Nina Hollander, Broker
Charlotte, NC
2,221,377
Thank you Kenneth J. Jones I knew this question has been asked before and there are numerous blogs written about it.
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Anthony Acosta - ALLAT...
Atlanta, GA
5,111,821
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.
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Anthony Acosta - ALLAT...
Atlanta, GA
1,624,653
Are you asking because you want to know or because you have to post a question?
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Nina Hollander, Broker
Charlotte, NC
5,060,238
Legally they are different ways of holding ownership. I would defer to Kenneth J. Jones on this. It's an important financial decision
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Nina Hollander, Broker
Charlotte, NC
6,416,169
Need to understand that only one of these is a purchase of Real Estate.
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For sure different check boxes on the listing! Never sold a co-op so couldn't tell you.
634,532
A condo is real property. A coop is a share of a company that owns property.
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902,038
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.
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4,434,177
4,800,132
The biggest difference is in the form of governance and the approval process.
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5,237,958
7,862,342
A cooperative is not real estate. You are selling ownership shares and need to follow the rules for the building.
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4,319,773
3,988,013
Get copies of the restrictions and rules and present to the buyer. They will explain everything.
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5,026,148
1,241,754
Disclosures and forms may be different. That is what your future broker is supposed to show you.
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