Keys to Purchasing a Condo or Co-Op

by ;
Edition: 2nd
Format: Paperback
Pub. Date: 2000-10-01
Publisher(s): Barrons Educational Series Inc
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Summary

The authors explain the difference between condos and co-ops, and help readers decide which is best, depending on one's personal circumstances. Barron's easy-to-understand Business Keys take the mystery out of finance and investment for ordinary consumers. These easy-to-read books offer up-to-date advice on saving, investing, protecting one's assets, coping with taxes, and prudent management of personal finances.

Table of Contents

Dedication vii
There Is a Condo for (Almost) Everyone!
1(2)
What Is a Condominium?
3(2)
What Is a Co-op?
5(2)
Ownership and Use of Common Areas
7(2)
Management
9(2)
Bylaws
11(3)
Condominiums and Co-ops as Investments
14(3)
Vacation Condos
17(4)
Affordability and Loan Qualifying
21(3)
Owning Versus Renting
24(3)
Multifamily Versus Single-Family
27(3)
Choosing Between a Condo and a Co-op
30(2)
Condo-/Co-op-Buying Process
32(2)
A Buyer's Broker
34(2)
The Internet
36(2)
Pitfalls When Buying
38(3)
Co-op Checklist
41(2)
Condo Checklist
43(2)
Making an Offer
45(2)
Negotiation
47(2)
Negotiation Points
49(2)
Sales Contracts
51(3)
Binders and Attorney Review Period
54(2)
Environmental Factors
56(3)
Mortgage Types
59(3)
Financing a Co-op Purchase
62(2)
Financing a Condo Purchase
64(3)
The Closing
67(3)
The Special Case of Conversions
70(3)
Condominium Documents
73(2)
Co-op Documents
75(2)
The Co-op Proprietary Lease
77(2)
Co-op Shareholders' Rights and Responsibilities
79(2)
Co-op Tenancy
81(2)
Fees, Rent, and Maintenance
83(2)
What Happens If You Don't Pay Your Fees?
85(2)
Property Taxes
87(2)
Insuring Your Home
89(2)
Repairs and Maintenance
91(2)
Property Improvements, Alterations, and Repairs
93(2)
Property Management
95(2)
Recreational Facilities
97(2)
Working with the Operating Board
99(2)
Home Ownership and Income Taxes
101(3)
Condo/Co-op Tax Considerations
104(2)
Taxation of Second and Vacation Homes
106(3)
Estimating Total Costs of Condo Ownership
109(3)
Keeping Records
112(2)
Dealing with a Developer or a Converter
114(3)
Conflicts Among Residents
117(2)
Leasing or Subleasing Your Unit
119(2)
Selling Your Unit
121(3)
Seller's Use of a Broker
124(2)
Seller Financing
126(3)
Terminating a Condo or Co-op
129(2)
Questions and Answers 131(8)
Glossary 139(14)
Payment Tables 153(10)
Index 163

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