With a condo you own an undivided interest in a particular unit and common areas. You get a deed for the property.
With a co-op you are essentially a shareholder of a company that owns the property. As a benefit of being a shareholder, you have the rights to a particular unit. In some areas of the country it is hard to find financing this way. However as a property tax saving plan, you may consider this where you want to rent out the entire building have the property assessed and rolled back as a residential property.
Quote:
On 2004-01-09 23:52, myfrogger wrote:
With a condo you own an undivided interest in a particular unit and common areas. You get a deed for the property.
With a co-op you are essentially a shareholder of a company that owns the property. As a benefit of being a shareholder, you have the rights to a particular unit. In some areas of the country it is hard to find financing this way. However as a property tax saving plan, you may consider this where you want to rent out the entire building have the property assessed and rolled back as a residential property.
With a condo you own an undivided interest in a particular unit and common areas. You get a deed for the property.
With a co-op you are essentially a shareholder of a company that owns the property. As a benefit of being a shareholder, you have the rights to a particular unit. In some areas of the country it is hard to find financing this way. However as a property tax saving plan, you may consider this where you want to rent out the entire building have the property assessed and rolled back as a residential property.
thanks!!!!!!!!! for answering
Quote:
On 2004-01-09 23:52, myfrogger wrote:
With a condo you own an undivided interest in a particular unit and common areas. You get a deed for the property.
With a co-op you are essentially a shareholder of a company that owns the property. As a benefit of being a shareholder, you have the rights to a particular unit. In some areas of the country it is hard to find financing this way. However as a property tax saving plan, you may consider this where you want to rent out the entire building have the property assessed and rolled back as a residential property.
Do you know of any companies that finance coops?