When I represent a client who is purchasing a co-op or condo apartment, it is important to look into the finances of the Co-operative or Condominium. A co-op or condo owner does not just own their own apartment. The owner owns a part of the cooperative or the condominium. The financial health of the cooperative or condominium has a direct effect on the apartment owner. Whether the building's mortgage is due to be re-financed or a real estate tax abatement is about to expire are factors that would have an effect on the common charges or maintenance the owner is obligated to pay.