Service Areas
About Peter Rand
Credentials
LICENSE
Designation
Real Estate Investing
PSA (Pricing Strategy Advisor)
SFR (Short Sales & Foreclosure Resource)
Broker / Associate Broker
REALTOR
Specialties
- Sellers
- Buyers
- Commercial Property
- Mobile Homes
- Residential Property
Awards
2025
TOP AGENT
Wyandanch, NY
Recent Sales
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Answered Questions
Hello Robert Co ops and condos are similar in that residents live in separate units with shared common areas ie pool recreation center tennis courts playground The main difference between a co op and a condo is the ownership structure When you purchase a condo you own the actual unit as you would own a house and a percentage of the common areas When you buy a co op you are not purchasing real estate bur rather shares in a corporation at closing you are issued stock certificates and a lease called a proprietary lease that enables you to live in a unit There are a number of other issues to consider when considering a co op vs a condo including the way taxes are handled and whether an interview with the Board is required I would be pleased to answer any other questions you may have