Reselling a Home
A Simple Process
Should you decide to sell your co-op home in the future, the process is quite simple and usually does not require the help or fees of a real estate agent. The first step is to inform the Property Manager by submitting an “Intent to Withdraw” form. The manager then offers the home to other members in the cooperative before turning to prospects on the community’s wait list. The price of your home includes your original share price, plus an appreciation, compounded annually, of the total value (Initial Dwelling Unit Value) of your home. Approved upgrades are also included in the sale price of your home.
Frequently Asked Questions
For existing cooperatives, contact the Property Manager at the location you’re interested in and fill out a reservation agreement to get on the waitlist. You will be contacted when a home is available for purchase. Also, you can check our website for homes available right now.
Approved upgrades are design upgrades such as granite countertops and hardwood floors made at an additional cost before construction is completed. The cost of upgrades (excluding carpet) are added to your resale value.
Additional costs typically include a transfer fee and fees for any necessary refurbishment. However, there are no closing costs, if you resell your home through your property manager or choose to sell it on your own.
Since 1990, Gentle Transitions has been coordinating all aspects of moves for older adults in the Twin Cities.View Site
EstateSales.net is the largest estate sales liquidation online advertising platform, providing resources for arranging estate sales.View Site
The Minnesota chapter of the National Association of Realtors.View Site
These resources represent only a few of the resources that may be helpful to you and your loved ones. There are many options available and each resource should be thoroughly researched to ensure that they meet your individual needs and are appropriately qualified to assist you.