2006-08-09 16:23:01 · 6 answers · asked by kenobohenry 2 in Business & Finance ➔ Renting & Real Estate
In a co-op, you are buying an interest in a corporation (or other entity) that owns all of the building and you get exclusive use rights with respect to your unit. In a condominium, you are buy an interest in real estate and you own your unit individually and a proportional share of the common elements (the hallways, lobby, etc.) in common with the other condominium unit owners.
2006-08-13 13:04:13 · answer #1 · answered by TarDane 2 · 0⤊ 0⤋
With the co-op you actually share ownership of the entire building and not just your particular unit. Prior to purchasing into a co-op you also have to be approved by the current resident/owners.
2006-08-09 16:26:36 · answer #2 · answered by zaffaris 5 · 0⤊ 0⤋
Co-ops require approval by board members before you can move in, and they are harder to sell. Condos sell easier, and there is no board.
2006-08-12 15:58:07 · answer #3 · answered by endsjustmeans 3 · 0⤊ 0⤋
residence appartment: individual possession of an element to a construction, with situation-free factors shared by utilising all proprietors. maintenance costs referred to as "exams" are paid to the apartment affiliation to maintain, restore, or develop the valuables.
2016-09-29 02:46:56 · answer #4 · answered by wichern 4 · 0⤊ 0⤋
the price lol condos are outragously expensive and overated
2006-08-09 16:27:26 · answer #5 · answered by Diane26 3 · 0⤊ 0⤋
condo(screwed) co-op better
2006-08-09 16:28:41 · answer #6 · answered by HEY boo boo 6 · 0⤊ 0⤋