Frequently Asked Questions

What is a cooperative?
A housing cooperative is a common interest community in which a cooperative corporation owns the land and building(s) and individuals own membership shares in the corporation that entitle them to the right of occupancy in a specific dwelling unit. (Click on: What is a Cooperative?)

Who owns/runs Becketwood?
Becketwood Cooperative is independently owned collectively by its Members in residence. Members take an active role in governance by serving on and electing Becketwood's board of directors. The board provides direction to an excellent management staff. (Click on: Life at Becketwood.)

How much does it cost to buy at Becketwood?
The value of a Membership at Becketwood is largely based on the size of the unit and its value in the market place, which historically increases over time. Please call us to learn more. 612-746-1025

Is there financing available to buy a Becketwood Membership?
Many of our buyers pay cash for their Memberships. For those who may want or need financing, however, there are options. One option is a share loan - a type of financing specifically designed for cooperatives, similar to a home mortgage.

How much are the monthly fees?
The monthly fees vary according to the size of the unit and may increase over time. Please call us for more information about pricing and monthly costs. 612-746-1025

What do the monthly fees cover?
It is important to note all the services covered by the monthly fee when comparing various condominiums or other cooperatives to Becketwood, so that you are not comparing "apples to oranges." Becketwood's monthly fees cover: real estate taxes, 24 hr. on-site security, a repair and replacement reserve, management, the dining room, heat and central air conditioning, water, trash removal, laundry facilities, grounds upkeep, snow removal, building maintenance and cable TV.

Do you have a Waiting List? How do I get on the Waiting List?
Yes, Becketwood maintains a Waiting List, which enables prospective Members to indicate the type of unit desired and the time they wish to be notified of the availability of possible selections. To join Becketwood's Waiting List, you must complete an application and submit it along with an interest-bearing, refundable $3,000 deposit. (Click on: A Sound Investment.)

Are there special requirements for membership at Becketwood?
One Member per unit must be at least 55 years old, capable of independent living, and able to meet certain financial criteria. Please call us for more information. 612-746-1025