Long Beach Island Real Estate Co-Ops
Click here to search all homes for sale in the Long Beach Island NJ real estate market
Cooperative (Co-Op) LBI Real Estate 
Cooperative (Co-Op) LBI Real Estate 
Cooperative (Co-Op) LBI Real Estate
Long Beach Island Real Estate
A Co-Op or real estate cooperative in the LBI real estate market is a legal form of ownership in which the housing unit is owned and controlled by a group of individuals. Like a condo, a co-op board will sell shares rather than a deed, and a buyer will have a membership interest in the co-op. When looking to buy a co-op in the LBI real estate market, I cannot over-emphasize the importance of understanding the rules and regulations of buying and owning a co-op.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
Cooperative (Co-Op) LBI Real Estate
There is one co-op in the Long Beach Island real estate market, and it is located in Beach Haven. When looking at this complex, most assume it is a condo complex, but it is, in fact, a co-op! Below are some of the most important things to understand when looking to buy a co-op in the LBI real estate market:
- Generally, a co-op in Ocean County cannot obtain conventional financing, so a buyer will have to either pay cash or find a different mortgage type.
- These units will usually trade lower than a condo due to the difficulty in financing and the additional restrictions that may be put in place.
- A buyer will usually have to be approved by the co-op board before they are allowed to complete the real estate transaction.
- Rentals are usually not permitted in a co-op on Long Beach Island.
Buying a co-op in the LBI real estate market offers several advantages. A co-op is usually well run and well kept. The tighter management ensures that the units and grounds are in good order. Additionally, budgeting for ownership costs can be more comfortable because they will typically have a high monthly HOA fee. While higher than most condos, the HOA fees will include most ownership costs, including real estate taxes and insurances. Like any transaction on Long Beach Island, a buyer must understand the terms and conditions and what they can and cannot do.
Long Beach Island Real Estate Co-Ops
A cooperative is a foreign concept to many LBI real estate market agents since they are so uncommon on Long Beach Island. That said, I have been involved in several transactions in the Beach Haven complex; I can tell you they are great investments if you are comfortable with the rules and regulations. If you have any questions about buying, selling or investing in the LBI real estate market, please do not hesitate to contact me.
By : Nathan Colmer |LBI Real Estate Agent | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
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Long Beach Island Condo By-Laws
LBI Real Estate Common Area Assessments