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Members of a housing cooperative purchase a membership or share in the corporation rather than the house itself. Each share or membership allows a person to enter into an Occupancy Agreement and live in a specific home within the cooperative. Membership prices are directly related to the market value of the home they are associated with.
Share Loan Financing is available for membership purchases through Mackinac Savings Bank and National Cooperative Bank. You are also welcome to apply through your own financial institution if you wish. Share loans are very similar to a regular mortgage. They can amortize over as many as 30 years, and offer competitive interest rates. When looking for financing, it is important to remember that you will not have a deed or title to real property, so whichever bank you apply to must be willing to offer loans based on the share alone.
After the initial purchase of the membership, members pay a monthly occupancy charge, which covers gas, water, maintenance, property taxes, lawn care, snow removal and garbage removal. On average, the total monthly housing charges, including the occupancy charge and the loan payment, will be between $500 and $800, depending on the size of the home and the amount financed. This cost is comparable to rental rates in our area while allowing members to enjoy many of the advantages of home ownership as well. Most notably, the resale value or equity. Our members can use their equity to obtain home equity loans, and can look forward to a nice return on their investment if they choose to move on someday. Why rent when you can enjoy all of the services and ownership too?
If you are a member who would like to post information regarding your membership for sale, please contact the office and we will be glad to help. If you see a membership you are interested in purchasing, we encourage you to contact your own Realtor, or the Realtor listed for a showing. To obtain a loan pre-approval please contact Mackinac Savings Bank at (800) 829-9259, ext. 224 or 233 or the National Cooperative Bank at (866) 622-6446, ext. 3439. Each lending institution can usually provide pre-approval information within 24 hours. *Please note that as the real estate market changes, these banks may change their requirements and may or may not be able to extend credit for new purchases at any given time.
Should you have any questions or concerns about our property and obtaining a membership, please feel free to email us, or contact the office at (586) 778-3740. We look forward to welcoming you to our community very soon!
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Very well maintained two bedroom townhouse style co-op. Neutral decor, very clean, fresh paint, hardwood floors, new oak cabinets. Doorwall to patio and private backyard. Carpeted basement area that can be used for Family Room or Play Area. Fenced yard. Pets allowed. Appliances included: stove, refrigerator, dishwasher, washer and dryer. Monthly association fee includes heat, water, taxes, insurance, indoor/outdoor maintenance. Why Rent??? |
158
Roseville, MI 48066
(586) 771-1100
Contact Fave Maraman @ Real Estate One (586) 771-1100
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2 Bedrooms
1.5 Bath
1000 Sq.Ft.
$12,900.00
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Spotless and Beautiful! Hardwood floors everywhere. Nice kitchen with new oak cabinets, stove, fridge, washer, dryer, microwave included. Association fee includes water, gas/heat, taxes, building insurance, exterior and most interior maintenance. Immediate occupancy. Close to expressways, shopping, public transportation and schools. |
035
Roseville, MI 48066
(586) 532-0500
Contact Marilynn Kassin @ Keller Williams (586) 532-0500
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2 Bedrooms
1.5 Bath
1000 Sq.Ft.
$16,500.00
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Two bedroom townhouse co-op with 1 1/2 baths and full basement. Updated kitchen with Oak cabinets, stove, refrigerator, hood fan and disposal. Assigned parking space. Association fee of $389 includes water, gas/heat, taxes, building insurance, exterior maintenance and most interior maintenance. Carpet in living room, hall and master bedroom. Immediate occupancy. Financing available. |
125
Roseville, MI 48066
(586) 286-6000
Contact William Frohriep @ Century 21 (586) 286-6000
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2 Bedrooms
1.5 Bath
1000 Sq.Ft.
$16,500.00
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Semi finished basement, new roof. Great area, nice court. A/C not to stay. Monthly association fee includes water, gas, taxes, exterior maintenance and most interior maintenance. Financing available. |
044
Roseville, MI 48066
(586) 532-0500
Contact Marilynn Kassin @ Keller Williams (586) 532-0500
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3 Bedrooms
1.5 Bath
1100 Sq.Ft.
$22,900.00
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Townhouse cooperative features three bedrooms, 1 1/2 baths, full basement and private backyard with newer privacy fence. Kitchen includes new cabinets, refrigerator, microwave and s/s sink with disposal. Central Air. Immediate Occupancy. Monthly association fee of $398 includes water, gas, taxes, exterior maintenance and most interior maintenance. |
048-Pending
Roseville, MI 48066
(586) 286-6000
Contact William Frohriep @ Century 21 (586) 286-6000
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3 Bedrooms
1.5 Bath
1100 Sq.Ft.
$23,900.00
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Neat,well-cared for 3 bedroom unit in quiet court. Almost new carpeting,ceiling fans,extra cupboards,new sinks and countertop.
Lovely paver block patio. Asking price - $26000.00.
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029
Roseville, MI 48066
586-778-3740
Call the sales office at 586-778-3740 for details
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3 Bedrooms
1.5 Bath
1100 Sq.Ft.
$26,000.00
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| 057 |
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STUNNING ONE OF OF A KIND 4 BEDROOM-LOADS OF UPDATES KITCHEN (HUGE) OAK CABINETS-A/C & FURNACE, BEAUTIFUL NEW LITE FIXTURES. HARDWOOD FLOORS-ALL APPLIANCES STAY..1 1/2 BATHS. Assoc fee ($419) incl gas, water, taxes, outside maintenance, and most inside as well. |
057
Roseville, MI 48066
586-532-0500
Contact Terry Harsh w/ Keller Williams @ 586-532-0500
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4 Bedrooms
1.5 Bath
1200 Sq.Ft.
$28,900.00
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Nice townhouse cooperative, featuring three bedrooms, 1 1/2 baths, paritally finished basement. Appliances included. Pets allowed. Doorwall to backyard with privacy fencing. financing available. |
212
Roseville, MI 48066
248-646-5000
Contact Koshy George w/Remax @ 248-646-5000
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3 Bedrooms
1.5 Bath
1100 Sq.Ft.
$49,900.00
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