Did you know?Due to the difficulty of
financing co-op sales, many existing co-ops have wisely
converted to condominiums so each unit can have its
individual mortgage or deed of trust financing. Converting
to condominiums usually increases a co-op's market value by
at least 25 percent, often more. Yes, there are co-op
conversion expenses, such as hiring an attorney to prepare
the legal paperwork and hiring an engineer or surveyor to
create legal descriptions for each condo unit. But these
initial expenses are usually repaid many times over when the
converted condo is sold or refinanced at increased market
value.