In Fall River, there is a thriving market for both cooperative and condominium transactions. Let's take a closer look at each:

Cooperative Transactions

A cooperative, often referred to as a co-op, is a type of housing where residents own shares in a corporation that owns the entire building or property. Each shareholder has the right to occupy a specific unit within the co-op.

One example of a cooperative in Fall River is the Riverfront Co-op. It offers a range of amenities, including a fitness center, community room, and rooftop terrace. The co-op also has a board of directors elected by the shareholders, who make decisions regarding the management and maintenance of the property.

When it comes to cooperative transactions in Fall River, it's important to consider factors such as the share price, monthly maintenance fees, and any restrictions or requirements set by the co-op association. Prospective buyers should review the co-op's financial statements, bylaws, and occupancy agreements before making a purchase.

Condominium Transactions

A condominium, commonly known as a condo, is a type of housing where individuals own their individual units within a larger building or development. In addition to their unit, condo owners also have shared ownership of common areas, such as hallways, elevators, and recreational facilities.

For example, the Harbor View Condominiums in Fall River offer waterfront living with stunning views of the bay. The complex includes a swimming pool, private parking, and a waterfront promenade. Each condo unit has its own deed and can be bought, sold, or rented individually.

When considering condominium transactions in Fall River, buyers should review the condo association's bylaws, rules, and regulations. It's essential to understand the monthly maintenance fees, special assessments, and any restrictions on renting or pet ownership.

References:

• Riverfront Co-op
• Harbor View Condominiums

It's always advisable to consult with a real estate professional or attorney who specializes in cooperative and condominium transactions to ensure a smooth and informed buying process.