Condominiums/Townhouses – Appraisals
A residential condominium is a type of dwelling unit. It is a type of ownership of single units or possibly multiple units in a multi-unit residential structure, combined with joint ownership of commonly used property (land areas, recreational facilities, garages, parking areas, sidewalks, hallways, stairs, lobbies, etc.). Any property type can be built or converted to this ownership arrangement. In most cases, individual unit owners hold title to the interior walls of their property. They also are member of condominium association, which collectively owns the exterior walls of the structure, as well as the ground the structure sits on. Typically, each unit owner has to pay a regular fee to the association which is then used to maintain common areas, pay common utility bills, maintain landscaping, remove trash, etc. A townhouse, or town house, is another type of dwelling unit. It is usually but not necessarily terraced (row housing) or semi-detached. A modern town house is often one with a small footprint on multiple floors.
We have a team of dedicated real estate appraisers focused on the various residential property types such as condominiums/townhouses. Please contact us for any residential appraisal services.