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What is the difference between a Co-op and a Condo at Rossmoor?

Many are confused by the difference between condominium and cooperative real estate at Rossmoor.  At Rossmoor, there are three primary forms of residential ownership:

  1. Condominium (Condo)
  2. Stock cooperative (CoOp)
  3. Single-family detached home.

Each of these forms of ownership allows the owner to sell or will the property.

Rossmoor Condominium Real Estate

In a condominium form of ownership, the purchaser owns the interior space that comprises his/her unit. Condos can be financed through the lender of your choice. Condo owners are responsible for interior maintenance, as well as furnace, water heater, and air conditioning.  Deck, patios, and parking areas are exclusively reserved for the condominium owner. The purchaser receives a grant deed to the condominium home. Payment of real estate taxes is the responsibility of the owner.   Like other property, the home can be placed in a trust or willed to heirs.

Rossmoor Cooperative Real Estate

When buying a Rossmoor cooperative (“co-op” or “coop”), the purchaser buys a share in a corporation which owns the building, land and any common areas.  Ownership is represented by a stock certificate, and the buyer signs an occupancy agreement.  Co-ops can only be financed through certain authorized lenders. The homeowners’ dues are collected monthly in addition to 1/12th of the annual estimated property taxes.  These two amounts are added together and paid monthly via owners “coupon.”  Co-ops can be put in wills and in trusts, but cannot be owned by a corporation.

The buyer signs an occupancy agreement, which is similar to a rental agreement. CoOp buyers are responsible for the maintenance of the interior space of their home, and have exclusive use of that space and a carport space. The Homeowner’s Association maintains the exterior of the building, the furnace, water heater, air conditioning & heating units, and some kitchen appliances.

If financing is required, coops can be financed by the National Cooperative Bank. Unlike the complex acceptance process well-known to New Yorkers, the decision to accept a potential resident to a cooperative at Rossmoor is purely financial.

Difference between Condominium and Cooperative Real Estate at Rossmoor

The table below summarizes most of the differences between condominium and cooperatives at Rossmoor.  However, there are a variety of home ownership associations (HOAs) at Rossmoor – similarities and differences will vary.  Please consult me for specific differences.

Condominium Cooperative
Ownership Interior space is owned by purchaser Ownership is represented by a stock certificate of ownership in a corporation.  Buyer signs an occupancy agreement.
Maintenance Owner responsible for most interior maintenance
HOA maintains exterior
Owner maintains furnace, water heater, air conditioning and heating, and all kitchen appliances
Owner responsible for most interior maintenance
HOA maintains exterior
HOA maintains furnace, water heater, air conditioning & heating, and some kitchen appliances
Taxes Responsibility of owner 1/12 is paid monthly to cooperative
Financing Lender of your choice Through National Cooperative Bank
Can the unit be owned by a corporation? Yes No
Can the unit be placed in a trust or will? Yes Yes


Reasons to Choose a Rossmoor Condominium Over a Coop, or a Rossmoor Coop Over a Condominium

Some buyers prefer coops because of the greater degree of predictability of monthly living expenses, while others prefer condos for the ease of financing that makes condos easier to buy and sell.  In addition, Rossmoor coops tend to be significantly less expensive than identical Rossmoor condominiums.  Therefore, when I show my clients homes, I typically show both condos and coops and explain the key differences as we are viewing specific homes.

All forms of ownership enjoy all the facilities, activities, benefits and privileges open to residents of Rossmoor.

Click here to see currrently-available Rossmoor real estate for sale.

Questions?  Feel free to call me at (925) 699-0031.

Better yet – take a no-pressure, no obligation tour of Rossmoor at your convenience.  Tours are tailored to your specific interests and can include visits to available Rossmoor real estate, if desires.

Schedule your appointment with me at (925) 699-0031 or use the form below to schedule a tour.


Condominium and Cooperative Real Estate at Rossmoor

Copyright ©2020 Tom Nevin.  Broker/realtor for selling/buying real estate in Rossmoor, Walnut Creek.  All rights reserved.

Posted on May 21, 2019 at 9:04 pm
Thomas Nevin | Category: All Blog Posts, Rossmoor | Tagged , , , ,

2 responses to “What is the difference between a Co-op and a Condo at Rossmoor?”

  1. Terry Sutter says:

    Are HOA DUES the same with both condo and coop?

    • Thomas Nevin says:

      Terry, no, there are 19 different HOAs and each has its own budget, reserves and expenses. Accordingly the HOA dues vary from one to the next. Some of the HOAs have condos and some have CoOps. I can be reached at Tom@tomnevin.com if you have other questions or feel free to call me at 925-699-0031. Rossmoor is a unique Age55+ Resort and although I represent buyers in all of the Bay Area Age55+ resorts, none have the unique qualities both in terms of amenities and administrative structure that has evolved at Rossmoor over the past 57 years. I am happy to discuss this in greater detail at your convenience.

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