Co-op's or Condo's

no stress bride Posted: Jan 13, 2005 01:08 PM

Co-op's or Condo's

Is it true with Co-op's you have to put down 20%??? What are the benefits?? I'm looking into Co-op's and Condo's I've found cheaper Co-op but not sure about the 20% if that is the case then I will stick to Condo's for now

Denise

boosh78201 Posted: Jan 13, 2005 01:37 PM

Re: Co-op's or Condo's

I brought a co-op in Howard Beach about 6 months and we put 20% down(thats what our building wanted) . It depends on the building. Some buildings ask for 10%, we even saw one that only required 5% down.

Chloegirl Posted: Jan 13, 2005 01:52 PM

Re: Co-op's or Condo's

It all depends on the management company.

We bought a Co-op 2 months ago and put 15% down.

They really just look at your financials to determine if you could pay the mortgage and maint. If so, it doesn't really matter.

nov04LIbride Posted: Jan 13, 2005 02:15 PM

Re: Co-op's or Condo's

Hey Denise! Where are you looking? We are in a condo in Ronkonkoma, put about 25% down.

no stress bride Posted: Jan 13, 2005 02:56 PM

Re: Co-op's or Condo's

Dam Beth 25% is right LOL

We are just starting to look around Coram,Selden, Patchogue area for now!!

We really don't have a set place in mind whatever we can afford right now with husband still in school!! I love my apartment right now but I do want to own something hopefully this year even if it is a co-op or condo so we just starting the search again!!

Let me know prices of your condo FM if u want and if any become available I also need to know if they accept pet!! Oh Little Otis