lanakhotimsky, Home Owner in Austin, TX

First of all this is not a condo,but a townhouse..i live across the street and when i got my house earlier this year i got it as a condo .After

Asked by lanakhotimsky, Austin, TX Sat Aug 11, 2012

talking with my neighbors and HOA meetings i know for sure about this matter. And i also sure that Realtor should check all info before putting house on the market. Huge differences between condo and town house rules..

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The biggest difference in a condo or townhome is: for a condo you only own whats inside the four walls, and with a townhome you also own the land the townhome sits on. Both entities can have an HOA which will charge monthly fees. The listing agents information is only as good as the seller. If the seller tells the agent its a condo and its actually a townhouse its understandable how inncorrect information could be presented. This should come up when the title company does a title search prior to the sale of the unit. If you want to know for sure contact the HOA they will have the doccuments on file. I hope this helps you.
1 vote Thank Flag Link Mon Aug 13, 2012
In Austin we have many condo's that have individual garages. There are even "free-standing condos" that look and feel like single family homes, often they have 2-3 car garages. We also have multi-level condos and one story townhomes. The buildings are only limited by the individual developers and the yterrain. Real estate is a very local matter, and its very different from city to city and state to state. If you have questions about your particular property, your Realtor should be able to help you find the answers.
0 votes Thank Flag Link Tue Aug 14, 2012
It seems that the definitions and differences can vary across the Country:
While both would be part of an HOA, with CCRs,
The concensus seems to be that a Condo is usually one level, whereas a Townhouse is two, three and even four levels.
The consistancy is that the land is not owned by the homeowner in either case.
Quite often, the Townhouse will have a GARAGE, because it is sitting on the land, whereas the Condo does not have a distinct garge; possibly a community garage.

And. No, there is not a huge difference in the "rules" but can vary from HOA to HOA.

In both cases, there are monthly HOA fees and the residents are subject to the CCRs.
This will impact the resale value.
0 votes Thank Flag Link Mon Aug 13, 2012
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