Buying or Selling a Home/Condop?

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Question
Hello,

My parents have been searching for a place in Manhattan for my little brother and his friend(s). The situation is that my brother's friend(s) wants to rent the place to room with him. I have been aiding my parents in finding a nice condo within our budget, and I've come across many condops. I've tried doing some research on what condops are, but I still don't understand it too well. If you could, is it possible to dumb it down a bit for me; all I know is that it's a mix between a condo and a co-op (obviously). I have absolutely no experience in real estate as this is the first time I am assisting with buying a home. The 2nd problem is that my parents have an agent who speaks Chinese with them so I can't understand the technical words at all, so my understanding of what condops are is slim to none. I have a few questions and I hope you don't mind if I follow up with them later on.

-Ivan

Answer
Hello Ivan,

Thank you for the interesting question.

I had not heard of condop until your question.

I went on line and looked it up.  You can do the same and get a full over view of condop better than I can tell you.

It sounds like they have both condos and coops in the same complex or building and overlapping rules.  Your best action when investigating would be to contact the complex managing agent.

Thanks
Hans

Buying or Selling a Home

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Volunteer


Hans Weber, Licensed Broker Associate

Expertise

I am able to answer questions related to buying or selling residential real estate in New York. There are many questions buyers and sellers have about the process of buying or selling a home that they are afraid to ask or that might seem too simple to ask. For instance: in a house, why do some doors open in and some doors open out?

Experience

Licensed real estate agent in New York State in 1988.
Serving buyers and sellers as a full time occupation since 1988 with over 300 successful residential real estate transactions.

Organizations
National Association of Realtors.
Westchester County Board of Realtors.

Education/Credentials
Graduate of Pace University in 1988 majoring in business and minors in taxation and computer science.

Awards and Honors
Consistently one of top sales awarding winning agents for Coldwell Banker in Westchester County.

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