What’s the difference between a condo and a co-op? Real estate terms aren’t always clear and understandable. If you’re thinking of buying a condo or co-op, I strongly recommend working closely with a registered real estate salesperson who can answer your questions, and explain the meaning of certain terms. You should also hire a lawyer who knows real estate law, and get their advice, before you submit an offer. One popular ownership model is a condominium, or condo, that involves owning your unit within a building, but not owning the land or any common areas outside the unit.

Source: thestar April 21, 2018 13:07 UTC