In your experience, how is selling a cooperative different from selling a condominium? What type of information do you need to make sure your principal understands when making either purchase?

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Rainmaker
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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

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Thomas J. Nelson, REAL...

La Jolla, CA
Nina Hollander, Broker

Charlotte, NC

Rainmaker
2,221,377

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

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Anthony Acosta - ALLAT...

Atlanta, GA

Rainmaker
5,111,821

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

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Anthony Acosta - ALLAT...

Atlanta, GA

Rainmaker
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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

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Nina Hollander, Broker

Charlotte, NC

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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

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Nina Hollander, Broker

Charlotte, NC

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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

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Rainmaker
1,505,863

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

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Rainmaker
634,532

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

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Ambassador
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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

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Rainmaker
902,038

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

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Rainmaker
1,617,916

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

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Rainmaker
4,434,177

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

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Rainmaker
4,800,132

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

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Rainmaker
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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

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Rainmaker
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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

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Rainmaker
7,862,342

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

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Rainmaker
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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

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Rainmaker
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Praful Thakkar

LAER Realty Partners - Burlington, MA

Metro Boston Homes For Sale

Kathryn Murdock - good answer from Kenneth J. Jones.

Feb 03, 2017 11:18 PM

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Rainmaker
3,988,013

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

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Rainmaker
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FN LN

Toronto, ON

One difference is that some of the forms are different.

Feb 03, 2017 06:22 PM

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Rainmaker
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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

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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

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Rainmaker
5,026,148

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

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Rainmaker
1,241,754

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

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Rainmaker
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Michael J. Perry

KW Elite - Lancaster, PA

Lancaster, PA Relo Specialist

Lack of financing options for co-ops

Feb 03, 2017 02:46 PM

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Rainmaker
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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

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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

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This question was just asked, please see my previous answer.
Thank you Kenneth J. Jones I knew this question has been asked before and there are numerous blogs written about it.
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.
Are you asking because you want to know or because you have to post a question?
Legally they are different ways of holding ownership. I would defer to Kenneth J. Jones on this. It's an important financial decision
Need to understand that only one of these is a purchase of Real Estate.
For sure different check boxes on the listing! Never sold a co-op so couldn't tell you.
A condo is real property. A coop is a share of a company that owns property.
Nothing else to add to this when Kenneth J. Jones has it covered.
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.
The biggest difference is in the form of governance and the approval process.
A cooperative is not real estate. You are selling ownership shares and need to follow the rules for the building.
Get copies of the restrictions and rules and present to the buyer. They will explain everything.
Disclosures and forms may be different. That is what your future broker is supposed to show you.