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Old 11-16-2014, 02:17 PM
 
534 posts, read 480,996 times
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Do folks have any opinion about this location? Consolidated Cooperatives of Scottsdale East | Scottsdale's Finest Co-Operative Community The properties look super cheap compared to other condo's in the area. Are there any safety concerns?
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Old 11-16-2014, 02:43 PM
 
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They do look cheap to buy. Do they have just an Hoa fee or a property lease fee? And what do fees include?
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Old 11-16-2014, 02:52 PM
 
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The dues seem reasonable too. I think the only 'catch' is that the sale must be all cash.
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Old 11-16-2014, 07:19 PM
 
Location: Scottsdale, AZ
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Quote:
Originally Posted by teeej View Post
Do folks have any opinion about this location? Consolidated Cooperatives of Scottsdale East | Scottsdale's Finest Co-Operative Community The properties look super cheap compared to other condo's in the area. Are there any safety concerns?
Whenever you consider a Co-Op you need to understand what you are buying. Unlike purchasing a condo or other deeded property you are only buying into a cooperative. Essentially you are becoming a member of a group of owners. It is more like a partnership than ownership.You do not have the same ownership rights that you get with a deeded property.

In addition when you agree to buy into the group you will need to be approved by the board for entry. One of the common knocks on co-ops is that a small group of members may assert an excess amount of influence among owners.

However, having said all that, these properties are very inexpensive to get into. They are in a convenient location in Scottsdale.

So if you are looking for an inexpensive place to live or are considering becoming a snowbird it may work for you. From an investment perspective there are probably better places to look.
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Old 11-16-2014, 07:58 PM
 
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You do not have the same ownership rights that you get with a deeded property.
Are there any major differences beyond the lack of ability to leverage it?
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Old 11-16-2014, 08:42 PM
 
Location: Scottsdale, AZ
2,153 posts, read 5,176,099 times
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Here is a really good reference on Cooperatives vs other properties. It also provides info on questions you would need to consider asking the Consolidated Coop board should you choose to buy in.

Arizona Cooperative Housing - Tucson Arizona Apartment Cooperatives - Southern Arizona Co-Op Real Estate Consultants Coop Community - Co-Ops Cooperative Bank Co Op in Tuscon - Mobile Home Park Cooperatives in AZ
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