The Cooperative or Co-op is a close relative to the
Condominium in that it is governed by an internal body, however in most cases
owners of coops are subject to more regulation. Co-ops are usually corporations
and unit owners are shareholders. Co-ops may restrict the transfer of units by
owners unlike that of a condominium scheme. In many if not most Cooperatives
not only is maintenance expenses a shared item, but also property taxes and
utilities typically are common expense. The covenants and rules of the governing body of a Cooperative have a
substantial effect on the value of the property. Appraisers unfamiliar with Cooperatives
should not be selected to appraise them.
Our firm has a network of appraisers qualified to appraise
any Cooperative anywhere in the United States.