What is the difference between a condo and a coop?

Answer When you purchase a condominium, you purchase a unit, plus ownership of common areas that you own with all the other unit owners. A lender will give you a loan, based on your ownership title to thi... Read More »

Top Q&A For: What is the difference between a condo and a coop

What are the benefits of living coop vs condo?

Both forms of real estate ownership afford the luxury of sharing the maintenance, safety, and preservation of real estate assets among all owners according to each owner's allocated interest. Both... Read More »

Coop and condo rules for pets?

Every shared housing situation has guidelines for pets. Condominiums and co-ops also have governing documents, wherein you'll find the guidelines for pets.

Is there a law regarding condo fees I live in a four-unit condo One of the members has not paid his condo fee for 7 months?

Yes, and the law is a local state law, plus the governing documents under which the association operates the property. Read your governing documents and follow the guidelines there to collect the p... Read More »

What is the difference between an co-op and a condo?

In a condominium, you hold title to your unit and own real estate in common with all other owners. In a co-op, you own shares in a corporation and are assigned a unit to which you do not hold clear... Read More »