Home Selling in 78702>Question Details

Jim N E, Home Seller in Austin, TX

condo vs townhouse vs house in listing

Asked by Jim N E, Austin, TX Thu Jul 31, 2014

I own a two-unit property that I'm converting to a condo regime. The two units are detached dwellings, and appear to a person on the street as two separate single-family homes.

I'm going to be listing one of the units for sale, and I was wondering what category to choose for the MLS listing. I could list it as a "condo", but I'm not sure that's right. I think it better fits the "home" category, and that it would get more attention that way, but would the MLS allow that? Are there any specific rules or guidelines for choosing the type of property?

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It does need to be listed as a condo, if this is the legal description of the property. Even if it is a site condo and you own all of it, including the roof and walls, the land ownership is not the same as single-family home and you cannot call it that for legal reason's. Also, when the person buying it is getting a loan, the lender will need to know that it is a site condo and not a single-family home as there are different types of loans for these.

If you are not a realtor yourself, I would suggest getting one to list it properly for you as well as promote it. There should be no reason that you cannot sell it quickly in the Austin market.
0 votes Thank Flag Link Fri Aug 1, 2014
Will the buyer own the land beneath the home and the air above? That is how we determine a condo, where you own the interior of the walls and everything inside vs. a single family home. If you own the ground below and the sky above it is a house, not a condo.

You might look into a lot split with the city, if they will not own the ground but you want to make it into a single family home.

Best of luck!!
0 votes Thank Flag Link Thu Jul 31, 2014
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