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Condo and townhouse form

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Carnivore

Elite Member
Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
Thanks for your replies. Here is the legal description.
BLUFF VIEW LOT 1 REVISED UNIT A LOT 1


In my area the above description would really tell me which direction to go in determining what I have and where to find the documents. Initially in Mecklenburg County NC they(developers) will submit an initial plat map indicating the total buildings by individual lot #'s. Once they seek permits the Plat is then revised and the individual lots are subdivided into seperate sub lots. Typically I see 4-8 units. This only happens when it is a SFR attached(sometimes rarely detached).

If its is of condo ownership the Building lot # would never exist except as part of the total complex and it would be described as a Building #100 and the individual units would have typically letters Such as Unit "A". Additionally condos in NC will always have condo doc's! Condos are assigned land area as a percentage of the total area.
 

Ted Martin

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified General Appraiser
State
Kansas
A legal like that in my market would be useless in determining if a property was or was not a condo. I have to pull the original plat and the associated documents where the condo was created.
 
Joined
Feb 3, 2004
Professional Status
Certified Residential Appraiser
State
Kansas
I've got one I'm scratching my head over. The legal is "S 62.42', Lot 14, Oak Ridge Addition, Phase One". Its basically a duplex with condo type ownership and I'm doing one side. No common areas or anything. The only one like it in the area as its surrounded by single family homes. The 1073 seems really overkill for it so I'm wondering if the 1004 is a permissible form for this type of property?
 
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David Sawyer

Member
Joined
Mar 8, 2008
Professional Status
Certified Residential Appraiser
State
Florida
Question: Has the county assigned land value to the strap #? This is the primary determination in my area for a single/ multi-family vs. condo.
 

Michael Tipton

Senior Member
Joined
Sep 25, 2005
Professional Status
Certified Residential Appraiser
State
Florida
Question: Has the county assigned land value to the strap #? This is the primary determination in my area for a single/ multi-family vs. condo.

I prefer to review the complete sales contract, recorded legal description and/or the project's recorded documents (usually available on-line locally) in order to determine whether a property is a condominium.
 

David Sawyer

Member
Joined
Mar 8, 2008
Professional Status
Certified Residential Appraiser
State
Florida
I prefer to review the complete sales contract, recorded legal description and/or the project's recorded documents (usually available on-line locally) in order to determine whether a property is a condominium.

I stand corrected by you! I said primary determination on whether the county has given land value or not. This is not all inclusive. I likewise check the docs, and warranty deed.
 
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