Buying an "Own Your Own" apartment
What is the name of your state? California
While looking at condos I came across a beautiful place that was oddly underpriced. Turn out it is not a condo or coop but an "own your own" which from what I can gather was a form of apartment conversation in the 40's. The agent said it was similar to a condo, but that financing can be difficult to find. I've searched the internet and cannot find any additional info on an "own your own," what the downside is, or why they are no longer used. Building in question is has 4 units and the other 3 tenants have been there for over 30 years. Any info or direction is greatly appreciated.
Gina
What is the name of your state? California
While looking at condos I came across a beautiful place that was oddly underpriced. Turn out it is not a condo or coop but an "own your own" which from what I can gather was a form of apartment conversation in the 40's. The agent said it was similar to a condo, but that financing can be difficult to find. I've searched the internet and cannot find any additional info on an "own your own," what the downside is, or why they are no longer used. Building in question is has 4 units and the other 3 tenants have been there for over 30 years. Any info or direction is greatly appreciated.
Gina
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