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Rainer
213,263
Dennis Swartz
Full Circle Property Management - Columbus, OH
MBA, GRI...experience counts!

I have often wondered about the point of a co-op, then I figured its not really housing so it does not fall under fair housing laws...so the approving can be done in ways that could be discriminatory.

Nov 25, 2015 08:45 PM
Rainmaker
5,215,548
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Need I say more? Read Ken James detailed outline!

Nov 25, 2015 08:01 PM
Rainmaker
846,475
Marco Giancola
Beachfront Realty - Miami Beach, FL
Realtor (305)608-1922, Miami Beach Florida

Very different Mr. James goes into depth here.

Nov 25, 2015 07:34 PM
Rainmaker
2,759,812
TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

 Good Thursday morning Tony. Seems as if Ken is a very good answer. Happy Thanksgiving!

Nov 25, 2015 06:01 PM
Rainmaker
2,817,671
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

Here in NY, there are a lot of added complications including getting co-op board approval and some types of loans aren't accepted.  It tends to take much longer to buy or sell a co-op and a higher % fall through.

Nov 25, 2015 05:41 PM
Rainmaker
1,661,836
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

We don't have cooperative areas in Albuquerque.  

Nov 25, 2015 10:55 PM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Ones a co-op and one is a condo.    Ken Jones nailed this one...

Nov 25, 2015 10:29 PM
Rainmaker
5,104,806
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Completely different. In the first place when you buy a coop you are buying shares in a corporation and not real property, per se. Coop boards also have a ton of power over whom to accept as buyers.

Nov 25, 2015 09:03 PM
Rainmaker
2,362,579
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Ken Jones gave you the answer. How is your class going? Happy thanksgiving!

Nov 25, 2015 08:35 PM
Rainmaker
2,071,025
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL

No difference.

Same.

Nov 21, 2019 08:15 PM
Rainmaker
1,598,452
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

Same.

Nov 21, 2019 01:06 PM
Ambassador
6,392,889
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Only one of them is real estate.

Feb 18, 2019 09:46 PM
Rainmaker
1,622,432
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

First of all: financing. I know only one guy who does coops. Also, dealing with coop board can be a pain, they have to approve a new homeowner. 

Nov 26, 2015 04:21 PM
Ambassador
3,727,873
Patricia Kennedy
RLAH@Properties - Washington, DC
Home in the Capital

There is little difference in the selling process.  They are just two different products.

Nov 26, 2015 03:18 PM
Rainmaker
5,583,278
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

we have no cooperatives in our area.... but condos are very plentiful....

Nov 26, 2015 09:30 AM
Rainmaker
3,986,258
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

They can be depending on the bi-laws

Nov 26, 2015 09:20 AM
Rainmaker
634,482
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

See Ken Jones ' answer for the in-depth version. Suffice to say they are very different transactions.

Nov 26, 2015 07:02 AM
Rainmaker
4,571,606
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Depends on the location.

Our area has very few co-ops left.  

Nov 26, 2015 03:52 AM
Rainmaker
3,988,007
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I have found cooperative are much more restrictive and harder to get a buyer approved. 

Nov 26, 2015 03:06 AM
Rainmaker
7,835,234
Roy Kelley
Retired - Gaithersburg, MD

When you sell a cooperative, you are selling a share of ownership, not real estate.

Nov 26, 2015 12:43 AM
Rainmaker
1,466,207
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Tony Trotter A condo is owned and deeded to the purchaser. A coop is owned by a corporation who sell the unit as shares to the corporation. Should a condo go into the foreclosure, only the owner is at risk. Should a coop go into foreclosure, everyone in the coop is at risk.

Nov 25, 2015 10:28 PM