Are near negative of buying a co-op surrounded by today's housing open market? (NYC metro area)?

I am looking to buy a co-op apartment sometime this summer. I currently live in NJ , contained by the NYC metro area. From what I apprehend, co-ops are harder to buy and sell than a regular condo is. Is near any other big drawback to buying a co-op apartment in the current housing situation we are contained by? A real estate agent who is a friend of the loved ones recommended to me that I not purchase a co-op, but I just considered necessary other opinions on this issue. Thanks

I own an ARM Mortgage loan explicitly set to expire contained by August?

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Answers:   there are differences contained by a co-op and a condo. Co-ops transfers stock in the building that give you the right to occupy the space. You only own stock not the space. Condo you own the interior space and the asc. owns the adjectives walls and grounds. Purchase is fine in any way if the price is party and yo have plentiful months of reserves for just surrounded by case.

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