Buying or Selling a Home/Cooperatives

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Question
I can buy a new home in a cooperative for $130,000.Monthly fee would be $1,792.00.Would this be a good investment?I am 74 years old.

Answer
It doesn't sound like it, Randy, but there is no way I can offer you a sensible reply without knowing what the market is for that property. What are the comparables? They will give you an idea as to the value. Where is it located? Is it in New York? China? Chicago? Alaska? Remember the old real estate adage: Location, location, location. I recommend you consult with a Realtor in the area of the cooperatives. Also, please remember, cooperatives ARE NOT real estate. Knock on the doors of the cooperatives and talk to people and find out what they paid for theirs. It's give you an idea that way, too. A real estate agent or appraiser would check with the county records to find out what other cooperatives sold for. I do wish you well.

Dick Dennis
dixiedee13@aol.com

Buying or Selling a Home

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Dick Dennis

Expertise

With more than 41 years as a real estate broker, I can solve most any problem presented. If I can`t, I do my research. Problems with mortgages, trust deeds, foreclosures, odd ways of conveying titles. Most any good Realtor can answer questions satisfactorily, but I answer questions that most cannot. Also, ask about my hard-copy newsletter, The Landed Gentry. It can also be sent to you via PDF.

Experience

Solving real estate problems for 37 years.

Organizations
National Association of Realtors

Publications
Publishes The Landed Gentry, guest writer in Who's Who in Creative Real Estate, First Tuesday, Financial Freedom and many newspapers

Education/Credentials
e-Pro Realtor, Certified Distressed Property Expert, Who's Who in Creative Real Estate

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