Book Description

A step-by-step approach to the process of buying or selling a condo or coop. The author explains the difference between a condo and a coop, weighs the pros and cons of buying vs. renting (paying particular attention to the financial and tax advantages of owning an apartment), and tells how to deal with real estate brokers, attorneys, and bankers. Sellers' concerns are discussed, such as the tax consequences of the sale, preparing the apartment for the sale, and finding a buyer. Included in the text are many actual questions that the reader should ask of brokers, lawyers, bankers, and of the buyer or seller. Contains actual documents used in the transactions, and explanations of their use. This new edition includes changes in accordance with the Tax Reform Act of 1986. Also a new section on condops is included.