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| 9858 Clint Moore Road, Boca Raton, FL 33496 | Caesar: (561) 715-8630 or Eileen: (561) 271-1311 |
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Condos: the good, the bad, the ugly
If you want to avoid costly mistakes when buying a condo, co-op or townhouse, "Tips and Traps When Buying a Condo, Co-op, or Townhouse, Second Edition" by Robert Irwin explains virtually all the potential pitfalls and how to avoid them. This easy-reading book is filled with many examples from the author's experiences with these unique types of housing, which require more than just casual investigation. Irwin explains both the advantages and disadvantages of what he calls "shared ownership properties." But don't be misled. He does not even mention the popular "tenant in common" (TIC) residences that have become popular in several cities to avoid the legal aspects of condominiums. Although the book's emphasis is on the negatives of condos and co-ops, as it should be, the author occasionally discusses the benefits of this special type of housing. But he spends much of the book warning what to look for and avoid in apartment buildings that have been converted to condos or co-ops. This ultra-complete book uses many pages warning about the negatives of cooperative apartment buildings, found mostly in New York, Chicago, Florida and a few California cities. The huge negative of the board of directors' inquisition approval or disapproval of prospective co-op buyers and renters, Irwin warns, holds down the market value of co-ops compared to equivalent condominiums that do not require approval of prospective buyers. For more information on this and other real estate matters, your first source for Palm Beach real estate should be licensed agent and long-time resident Caesar Parisi. click here for article |
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