August 28, 2007
How are disclosures different for co-ops and condos?
In Manhattan about 80% of the owned residential housing market is co-op. Condominiums are probably less than 20 %, with townhomes as a small group of select, boutique properties. Purchasing any of them involves some sort of application process. It can be as simple as a request for information between principals in a townhouse transaction, to full finacial disclosure co-op board packages with a rigorous process requiring an interview with a Board of Directors.
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