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Robayna101, Other/Just Looking in Maryland

what is better condos or co-op?

Asked by Robayna101, Maryland Sun Apr 12, 2009

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A co-op is an asset like any other piece of real estate except you are not really buying the property. A co-op is not condo. When you buy a condo you are buying the actual site (like a house). In a co-op, or cooperative, you are buying shares of a corporation (which is leasing you back the place where you will live). It is a North-Eastern phenomenon that made ownership affordable. So the process is like buying a house, except usually you must get approved by your fellow share holders (the Board).

They both are assets. They both can be bought and sold. Condos are generally more expensive for a variety of reasons. If you need help buying. Click this link. http://www.askrey.net/blogs/rey_hollingsworth_falu/archive/2…

-Rey Hollingsworth Falu
Licensed Associate Real Estate Broker
Houlihan Lawrnce
917-855-0277
Web Reference: http://AskRey.net
0 votes Thank Flag Link Mon Apr 13, 2009
Hi, this is really an opinion based on individual needs and wants. To give you a better understanding on the two, please visit my Blog on my Trulia profile. Scroll through and you will find a very thorough explanation of purchasing a Coop or Condo. Then you will hopefully be able to formulate your own opinion. They are two separate blog posts and a couple of weeks apart but should be easy enough to find.

Sincerely,

Christopher Pagli
Associate Broker
Legends Realty Group
914.406.9023
0 votes Thank Flag Link Sun Apr 12, 2009
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