What is the difference between a condo and a cooperative?

When it comes to real estate law in Washington, the types of properties can sometimes be confusing. The two main types of properties in Washington are condos and cooperatives, but there are a few important differences between the two. A condo is a type of property that a person owns outright, meaning that the owner can do whatever they want with the property as long as it is within local laws and regulations. The owner is responsible for all costs associated with the property, including maintenance, taxes, and insurance. A cooperative, on the other hand, is a type of property that is owned by a group of people. In a cooperative, the group of owners share the costs associated with the property, including maintenance, taxes, and insurance. The cooperative also establishes the rules and regulations for the property, which the individual owners must follow. At the end of the day, the main difference between a condo and a cooperative is ownership. With a condo, an individual has complete ownership of the property. With a cooperative, ownership is shared between a group of people and the rules of the property are established by the cooperative.

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What is the difference between a condo and a cooperative?

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