condominium ownership
114) Condo Vs. Townhouse?
07/18/07
Dear Henry,
I am an apprentice in SC and am having a problem distinguishing the difference between a condominium and a townhouse. I can't seem to find anything that gives me a definitive answer. In the MLS listings some will show a site size and others will not. Do you show a site size for a condo? Do you show a site size for a townhouse? What is the difference between the two? I am confused.
Thanks for you help. By the way, I love the online magazine [www.revmag.com] and I have several of your books including the Harrisons' Illustrated Dictionary of Real Estate and Appraisal.
Eloise Sullivan esulli8@comporium.net
Dear Eloise,
A condominium is a form of ownership. It can be a single family house, townhouse, apartment house, office bldg. etc. The deed to the property will always indicate that it is in condominium form of ownership. The owner will also know this, as there will be an HOA (homeowners' association) to which they must pay fees (usually assessed monthly).
A townhouse is a type of building with a common wall connected to another unit. The ownership may vary and can be in fee simple, PUD or Condo form.
H2
I am an apprentice in SC and am having a problem distinguishing the difference between a condominium and a townhouse. I can't seem to find anything that gives me a definitive answer. In the MLS listings some will show a site size and others will not. Do you show a site size for a condo? Do you show a site size for a townhouse? What is the difference between the two? I am confused.
Thanks for you help. By the way, I love the online magazine [www.revmag.com] and I have several of your books including the Harrisons' Illustrated Dictionary of Real Estate and Appraisal.
Eloise Sullivan esulli8@comporium.net
Dear Eloise,
A condominium is a form of ownership. It can be a single family house, townhouse, apartment house, office bldg. etc. The deed to the property will always indicate that it is in condominium form of ownership. The owner will also know this, as there will be an HOA (homeowners' association) to which they must pay fees (usually assessed monthly).
A townhouse is a type of building with a common wall connected to another unit. The ownership may vary and can be in fee simple, PUD or Condo form.
H2