1300 S Broadway # 25, Lantana FL 33462

Description

This is a great location and opportunity for anyone who is looking for affordable Florida living that is in walking distance close to everything! This is 55+ co-op community in the heart of the downtown Lantana. Only one person has to be 55+. It has an open floor plan and features new carpet in the living-room, updated bathroom and plenty of storage & closet space. The dues are quarterly at $350. this is low and so is the cost of living here. You can walk to the public transportation, shops, beach, police / fire, and I-95. You can literally walk to everything. It is priced to sell quickly. So call today for a showing. These units are hard to find in such a good location. What is a co-op? Short for "cooperative," a co-op takes the concept of teamwork to new heights for homeowners. Here's why: When you buy a co-op home, you don't technically buy (or own) your property. Instead, you buy shares in a corporation that owns it. The bigger your home, the more shares you own. While the number of shares you own will affect your taxes, maintenance fees, and other financial matters, owning more shares does not mean you can monopolize all building-related decisions. Typically each shareholder has an equal say in how the co-op is run and maintained. Residents typically vote on any decision that affects the building; they also elect certain residents as board members who carry out the group's wishes and handle other nitty-gritty details in more depth. In order to buy a home in a co-op, you'll need to be approved by the co-op boardâ€"it's a bit like interviewing for a job (but maybe more stressful). And while a board's power to allow or deny you entry to a building may seem intimidating or even humiliating, the board's admittance decisions, by law, are supposed to be exclusively based on the prospective buyers' ability to pay, and their willingness to live by the terms of the association's rules and regulations. (Author Realtor dot com ) "Under no circumstances can someone be turned down because of age, sex, race, sexual orientation, or religion," says Washington real estate attorney Benny L. Kass. In order for the co-op board to assess financial eligibility, potential buyers must submit their financial records, not unlike what they may have submitted to qualify for a loan. The co-op board approval process for new buyers will also come into play when you sell, as your prospective buyers will need to interview and pass muster as well.