Cash Free
conversion model.
No out-of-pocket costs. No upfront fees. No financial risk during the conversion process. You pay only when — and if — your unit successfully converts.
No Upfront Costs
Zero fees or expenses required from shareholders before conversion is complete.
No Payment Until Closing
Hutton receives payment only after successful conversion of each unit.
No Obligation During Process
The co-op corporation and shareholders bear no financial burden during conversion.
How It Works
The mechanics of Cash Free
Fee Structure
Per-unit fee paid only at successful conversion. The fee is based on unit size and represents only a fraction of the equity gain you'll realize from the conversion.
Cost Integration
Conversion fees and closing costs are wrapped into your new combined loan — your proportionate share of the underlying mortgage plus your existing share loan. No separate payment required.
Ongoing Costs
Condominium fees fund building maintenance and operations. Generally, there's little to no difference in operating expenses between a co-op and condo, except for real estate taxes (which become individual rather than collective).
Key Difference
Real Estate Taxes: Co-op vs. Condo
Cooperative
Taxes paid by the co-op corporation from assessments collected from shareholders. Indirect and collective.
Condominium
Each owner receives an individual tax bill. Direct ownership, individual accountability. The association pays no real estate taxes.
Maintenance of common elements, insurance, and reserve funding remain identical between ownership structures.
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