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Real Estate
Reply to "Only $35,249 for this apartment? Is it typo?"
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[quote=Anonymous]You do not technically own the unit itself. Instead, you own shares in a corporation that owns the entire building or complex. Your number of shares corresponds to your unit. Those shares give you a proprietary lease allowing you to live in the apartment. The building is owned collectively by the cooperative corporation. Condo With a condo, you own your individual unit outright as real property. 2. Monthly Payments Co-op You pay monthly carrying charges (sometimes called maintenance). These often include: • Building insurance, Property taxes, Water, sewer, and sometimes gas/heat, Maintenance of the building and grounds, underlying mortgage (if the building has one) Because many costs are bundled together, co-op fees are often higher but more inclusive.[/quote]
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