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Ambassador
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Selling a coop requires Board and lender approval for your buyer and selling a condo only requires lender approval. Coops are basically ownership in the building - you are issued a stock certificate at Closing. 

You still list a coop otherwise, as you would a regular condo.

Apr 07, 2019 08:13 PM
Ambassador
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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I wish you all the best with your real estate studies. 

Apr 07, 2019 08:18 AM
Rainmaker
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Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

The Co Op has a Board that has to approve you. 

Apr 07, 2019 08:03 AM
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Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

One is like buying an apartment, one is like buying stock in an apartment then renting it.

Apr 07, 2019 07:24 AM
Rainmaker
468,799
Dan Pittsenbarger
Keller Williams Western Realty - Bellingham, WA
Improving Conditions

"Selling"???  Well as for as the selling process goes, it's about the same - get the property listed and put it in our local MLS and do your marketing. What you are selling is what is different. One  you are dealing with Real Property and exchanging fee title - ownership in real property. The other - the coop - you are dealing with shares in a corporation and the corportation owns the property. Finacning is more difficult on buyer side and the coop may or may not allow it. And then there's an application and often an interview process. One has to be accepted into the "club".

Apr 07, 2019 08:20 AM
Rainmaker
557,068
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Many markets do not have cooperatives - such as Central Oregon - but most do have condominiums.  I have never been involved with a cooperative, but I believe the board has to approve purchase in such real estate.  With a condominium, you are purchasing the air space in your unit plus an equal percentage to the common elements with all other owners.

Apr 07, 2019 03:31 PM
Rainmaker
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Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker
Apr 07, 2019 12:00 PM
Rainmaker
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Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

In the end, it's not except for the fact that a buyer needs board approval in a coop and there are lots of coops that don't allow financing.

Apr 07, 2019 08:19 AM
Rainmaker
1,707,423
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

If you don't have them in your area don't worry about.

Apr 07, 2019 08:03 AM
Rainmaker
4,215,215
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Bob Crane gave you the simple explanation!

Apr 07, 2019 07:58 AM
Rainmaker
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Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

I've never dealt with a cooperative.... but we do have condos....

Apr 07, 2019 09:41 AM
Rainmaker
1,387,928
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Good luck with your studies.

Apr 07, 2019 09:27 AM
Rainmaker
1,154,075
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

 East coast system. Not popular in west coast.

Apr 07, 2019 08:46 AM
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD

It is a different form of ownership.

Apr 07, 2019 08:34 AM
Rainmaker
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Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

Great answers. 

Jun 18, 2019 04:07 PM
Rainmaker
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Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

No idea. 

Jun 18, 2019 03:42 PM
Rainmaker
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Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

We don't have any cooperatives in Denver.

Apr 22, 2019 03:21 PM
Rainmaker
911,686
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

You have some excellent answers.

Good luck with your studies.

Apr 09, 2019 09:59 AM
Rainer
318,050
Caroline Gerardo
Sun West Mortgage Corporation - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

The product - the property you are selling is very different. The board of a coop approves a buyer. There are less lenders and more restrictions for a coop. 

Apr 08, 2019 02:51 PM
Ambassador
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John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, MD, MT, NC, NJ, NV, OK, OR, PA, SC, TN, TX, UT, VA, WV - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

Vastly different from a financing perspective.  Buying a condo is similar to a single family residence in most cases, aside from instances where there are non-warrantable features.  A COOP is more difficult to navigate with fewer lending options and more restrictive program features.

Apr 08, 2019 11:53 AM
Rainmaker
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Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Selling is the same; legal structures and documentation are different.

Apr 08, 2019 11:31 AM
Rainmaker
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Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

A cooperative or coop and a condominium are different styles of ownership while there are a few the coops are not very common in the Northern Virginia area.

Apr 08, 2019 10:08 AM
Rainmaker
4,047,526
Richard Weeks
Dallas, TX
REALTOR®, Broker

I've never lived in a area where coops were popular, so I have nothing for you.

Apr 08, 2019 02:47 AM
Rainmaker
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Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Coop is harder - Financing & Buyer Approval

Apr 07, 2019 02:03 PM