As an appraiser of real estate, I come across attached dwellings that are classified as single family residences, and detached dwellings that are classified as condominiums. What is the criteria for determining whether a new project or tract will be classified as either condo's or Single family residences. I've heard everything from the number of units per acre, to quality of construction, to how sewer lines are hooked up. I'm familiar with the legal definition for both types of ownerhsip but can't figure out why for example you might come across a tract of detached dwellings (homes) but there legally classified as condominiums. Any information on this would be greatly appreciated.
2006-07-22 19:48:09 · 3 answers · asked by krambis31 1 in Home & Garden ➔ Other - Home & Garden
Attached dwellings that are classified as single family residences is misadvertising. However there are certain cases in which detached dwellings or "townhouses" are classified as condo's. Condominiums have to be incorporated as a condo, with bylaws & a disclosure packet given to residents/purchasers.
Developers have more control over what's "acceptable" in a condo. For example you can set up your condo to include outlawing "For sale" or "For rent" signs displayed in visible areas such as windows. This is substantially easier and more feasible than trying to change or add deed restrictions. You also have the ability to fine or issue tickets to residents not adheering to condo bylaws. Don't forget the monthly condo fees that are assessed!
Much of this answer is limited to Virginia laws.
2006-07-24 16:33:19 · answer #1 · answered by Ali S 2 · 0⤊ 0⤋
I think a lot of this would depend upon the zoning.
Also, the type of ownership (which may be determined by the zoning, actually)... a tract of homes as you described being classified as condo's... I would expect ownership would mean the home itself... and not the land it was on. The land would belong to everyone, I would think.... no individual property lines...that probably means that the 'condo' owners pay a membership fee for maintenance of the lawns, etc.
2006-07-22 19:56:36 · answer #2 · answered by thewrangler_sw 7 · 0⤊ 0⤋
the reason they say youll get a bettern deal going with a realtor is because the realtor has adventure. do exactly analyze so that you recognize the way a lot you would possibly want to be procuring the abode and why. If the builder knows that you cant be taken great factor about they're going to deal with to communicate organization. genuine resources brokers purely take your funds, they're purely mandatory if youre lazy.
2016-10-15 02:45:37 · answer #3 · answered by woodie 4 · 0⤊ 0⤋