What to know about buying co-op apartment in Seatt

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Real Estate

Cooperatives, or co-ops, aren’t the most visible or plentiful property type available to prospective homebuyers in Seattle. Roughly 70 co-op units are for sale, have sold, or gone pending in the last six months in Seattle, according to data provided by Keller Williams Realty. For comparison, more than 2,700 condos in Seattle fit the same criteria. But co-op buildings do dot Seattle’s real estate landscape, and available units in buildings like the Lorington in Capitol Hill, the Willmar in Queen Anne, and Park Vista in Ravenna pop up in many a Redfin search.

Homebuying is time- and energy-consuming, and for the uninitiated, co-ops can be especially confusing. The extra designation of “co-op” is another murky term on an already lengthy list of unfamiliar vocabulary words. (We’re looking at you, PMI, escrow, and rate lock.)

For Seattle homebuyers considering their options, here’s what you need to know about co-ops.

Click here for more information: https://seattle.curbed.com/2019/9/26/20885583/housing-cooperative-seattle-homebuying-guide