The most significant difference between buying a co-op and a condo is the ownership structure, says James Woods, Esq., managing partner at
How do I calculate the risks of waiving a financing or appraisal contingency?
The best way to gauge the risk of waiving contingencies is to take a close look at your own finances, as well...
How do reverse mortgages work for co-op shareholders?
Taking out a reverse mortgage could be helpful to senior citizens on a fixed income, but it's important to be aware of...
Can my co-op require me to get higher liability insurance than other shareholders?
Co-op boards are legally obligated to treat shareholders equally, but there may be specific circumstances under which one shareholder's liability insurance rates...
My neighbor plays his music really loud and with lots of bass. What can I do?
If you have already tried a friendly chat with your neighbor with no success, your next step should be reaching out to...
How much will our carrying costs increase after we buy a co-op or condo?
There's no avoiding increases over the long-term, but you can keep an eye out for certain red flags that may indicate a...
What do first-time buyers need to know about co-ops?
“When my office works with someone buying a co-op for the first time, our goal is to avoid unwelcome surprises—either as part...
How Co-op and Condo Boards Can Avoid Conflicts of Interest
Most co-op and condo governing documents underscore that self-dealing by board members is prohibited. However, there are some important practices to employ to further prevent any claims of...
Co-op Boards May Now Have a Way to Get Rid of Tenants Who Are Nuisances
A significant—and perhaps not uncommon—problem for co-op boards can come in the form of a disruptive unit owner or tenant. Perhaps the...
Local Law 97 and Its Impact on Co-op and Condo Boards
It is a common excuse with lawmakers “we started with the best of intentions.” In 2019, Local Law...