Is it harder to sell a co-op, homeowner;s association, than condo?

isnt a homeowners association essentially a co-op also?

i googled but i need it in simpler terms

thank you

Re: Is it harder to sell a co-op, homeowner;s association, than condo?

from what I've witnessed, it depends. I notice Co-Op's in Queens sell A LOT faster than co-op's on LI, especially Suffolk County. Also, its the added struggle of waiting for a co-op board to approve a potential buyer which you wouldn't have with a condo.

Re: Is it harder to sell a co-op, homeowner;s association, than condo?

I am in the process of selling a homeowners association townhouse and you need no permission from the board, all you have to do to sell is let the homeowners association know you are transferring ownership over to the new owners for common charge purposes and then the new owners have to give them their contact info to reprogram the gate entrance. They pretty much have no say or anything in the matter, unless you owe back common charges then they will collect that at closing.

Re: Is it harder to sell a co-op, homeowner;s association, than condo?

I think it depends on more variables than just the type of home you are trying to sell.

Re: Is it harder to sell a co-op, homeowner;s association, than condo?

co-ops are typically harder to sell because your purchaser has to have board approval--but it really depends on the rules of the board--if you have a board that isn't very strict it is easier.

A homeowner's association can be of two types--either a single home which is part of the association or a town house which makes up the association. These are like condos or selling any house because you don't need approval to sell and you can sell to whoever you want as is the same for a condo.

I hope that helps.

Message edited 2/13/2007 5:25:05 PM.