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    Co-ops Vs. Condos

    Since this is a conversation that we often have with our clients, we figured we’d share it with anyone wondering about a co-op. Most people are not even familiar with co-ops until they begin looking for condos. What are the benefits or drawbacks of a co-op? How do you buy a co-op? Instead of reinventing the wheel on this one, we’ve decided to share some online references that are accurate and easy-to-understand.

    First, check out UrbanTurf‘s recent primer on co-ops. We especially like the clear explanation of the often confusing “underlying mortgage” sometimes found in co-ops.

    Next, the Prince of Petworth‘s blog post on the topic is mostly feedback from readers with experience. We like hearing from actual people who have owned or considered a co-op.

    Here’s a pretty good rundown of the pros and cons on Curbed. And then finally, the most technical site and probably more info than you really want or need on Wikipedia.

    Let us know if you’ve got specific questions that aren’t covered here and we’ll get the answer for you. Bottom line – co-ops can be a good option for some people but as always, it’s very important to be fully informed about what buying a co-op means.

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