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Forgive me if this is a stupid question..What is the difference between a Co OP and a COndo???

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beautyq115
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Member since 5/05

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Me

Forgive me if this is a stupid question..What is the difference between a Co OP and a COndo???

I am not sure what the difference is...I know that you own it BUT I am not sure what makes a coop and coop and what makes a condo and condo...TIAChat Icon

Message edited 5/25/2005 12:22:59 PM.

Posted 5/25/05 12:22 PM
 
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Erica
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Re: Forgive me if this is a stupid question..What is the difference between a Co OP and a COndo???

condos you actually own the walls...and the insides

coops you own a share of a corporation that owns the buidings (proportionate to the size of your apartment)

Message edited 5/25/2005 12:27:22 PM.

Posted 5/25/05 12:27 PM
 

beautyq115
New Year!

Member since 5/05

13729 total posts

Name:
Me

Re: Forgive me if this is a stupid question..What is the difference between a Co OP and a COndo???

Is one bigger than the other???

Posted 5/25/05 12:37 PM
 

MrsR
My love.

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Jennifer

Re: Forgive me if this is a stupid question..What is the difference between a Co OP and a COndo???

Either one can be any size.

Posted 5/25/05 12:42 PM
 

Donna
1 year already!!

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Donna

Re: Forgive me if this is a stupid question..What is the difference between a Co OP and a COndo???

Posted by Lilith

condos you actually own the walls...and the insides

coops you own a share of a corporation that owns the buidings (proportionate to the size of your apartment)



You also may have more freedom with a condo (such as knocking down walls, renovations, etc) Friends that have co-ops usually need Board approval for all of that

Posted 5/25/05 1:43 PM
 

heidla
Me and the guys

Member since 5/05

4024 total posts

Name:
Heidi

Re: Forgive me if this is a stupid question..What is the difference between a Co OP and a COndo???

We own a co-op in the city. Basically what we own in shares in the corporation of our building. The # of shares is based on the size of our apartment. We need board approval to make any structral changes to our place. In NYC co-op owners have most of the same rights as renters, because technically that is what we are.

Posted 5/25/05 3:34 PM
 
 

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