Buying an Apartment?

[ARCHIVED THREAD] - Buying an Apartment?

Posted: 10/9/2007 8:48:14 PM EDT

Where I live there is a building Downtown that is being renovated to have 3 apartments on the second floor and shops on the first floor. I've heard the apartments will be sold instead of rented. I'm a little interested after I heard that there will be one large apartment with a private elevator and underground parking. I haven't heard the asking price for the apartment. There really aren't any upscale apartment around my area and this one sounds really cool.

Posted: 10/9/2007 9:11:06 PM EDT

[#1]

Are they going to be like a co-op? Or a condo??

I'm afraid those outside The City will have little clue as to what you speak of...

Posted: 10/9/2007 9:12:51 PM EDT

[#2]

Quoted:
Are they going to be like a co-op? Or a condo??

I'm afraid those outside The City will have little clue as to what you speak of...

I have no clue what your referring to. LOL. Please explain.

Posted: 10/9/2007 9:17:50 PM EDT

[#3]

Quoted:

Quoted:
Are they going to be like a co-op? Or a condo??

I'm afraid those outside The City will have little clue as to what you speak of...

I have no clue what your referring to. LOL. Please explain.

So...

Where up state do you live???

Posted: 10/9/2007 9:18:01 PM EDT

[#4]

If it's condo, it might be worth it. Co-op on something like that will drive you nuts. I'd never buy a co-op. I don't like "regular people" that much.

Posted: 10/9/2007 9:19:40 PM EDT

[#5]

Quoted:
If it's condo, it might be worth it. Co-op on something like that will drive you nuts. I'd never buy a co-op. I don't like "regular people" that much.

What exactly is a co-op?

Posted: 10/9/2007 9:33:12 PM EDT

[#6]

Quoted:

Quoted:
If it's condo, it might be worth it. Co-op on something like that will drive you nuts. I'd never buy a co-op. I don't like "regular people" that much.

What exactly is a co-op?

Well, they're set up a little different everywhere, but in general, the residents all own part of the building, and share certain costs like maintenance, trash service, snow removal, etc. There will be no end to the bickering about who is supposed to pay what.

In a condominium, there will likely be a property management company that collects fees from the residents for such things.

The OP needs to do a LOT of research.

Posted: 10/9/2007 9:34:07 PM EDT

[#7]

Quoted:

Quoted:
If it's condo, it might be worth it. Co-op on something like that will drive you nuts. I'd never buy a co-op. I don't like "regular people" that much.

What exactly is a co-op?

Well, they're set up a little different everywhere, but in general, the residents all own part of the building, and share certain costs like maintenance, trash service, snow removal, etc. There will be no end to the bickering about who is supposed to pay what.

In a condominium, there will likely be a property management company that collects fees from the residents for such things.

The OP needs to do a LOT of research.

I will thanks for that little tid bit.

Posted: 10/9/2007 9:34:51 PM EDT

[#8]

also, what happens when the owner or company that owns it dies/dissolves/bankrupts, etc.

[ARCHIVED THREAD] - Buying an Apartment?

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