The Process
Six steps to
unlocking equity.
Hutton manages every detail of your conversion. From the first shareholder meeting to the final closing, our proven process ensures a smooth transition with no surprises.
6-9
Months typical timeline
100%
Completion rate
Step1
Shareholder Education
Inform before the vote
- •Board-approved educational meetings scheduled
- •Benefits, costs, and implications explained clearly
- •All shareholder questions addressed transparently
Duration
2-4 weeks
Step2
The Vote
Democratic decision-making
- •Proxy/Ballot distributed to all shareholders
- •Special Meeting called for formal vote
- •Your vote counts whether present or by proxy
Duration
1-2 weeks
Step3
Legal Formation
New condominium regime created
- •Master deed, bylaws, and regulations prepared
- •Documents filed with appropriate authorities
- •Full Board participation throughout
Duration
4-8 weeks
Step4
Loan Applications
Financing made simple
- •On-site loan application assistance
- •Flexible scheduling for every shareholder
- •Hutton representatives guide the process
Duration
4-6 weeks
Step5
The Closing
Settlement and transfer
- •Escrow or simultaneous closing over 2-3 days
- •Attorneys conduct all closings on-site
- •New deeds and mortgages recorded immediately
Duration
1-2 weeks
Step6
Post-Conversion
Maximizing your value
- •Building re-introduced as condominium
- •Strategic marketing to real estate community
- •Regulated sales to optimize pricing
Duration
Ongoing
What Changes
The Exchange
Cooperative
Condominium
Shares in co-op
Deed to condo unit
Pro-rata share of co-op debt
Individual mortgage
Common interest (co-op)
Common interest (condo)
No shareholder has ever paid out-of-pocket for a Hutton conversion. Our "Cash Free" model wraps all costs into the new mortgage.
Ready to start?
The first step is understanding if your building is a good candidate. Our feasibility study is free and comes with no obligation.
Get Your Free Feasibility Study