Detached Condominium

[NJ Valuator]

Detached single family with condominium ownership. I know that either can be used but just taking a census if you complete them on the 1073 or 1004?

 

[glenn walker]

Check with lender it's changed a few times. Go to Fannie Guidelines online.

 

[Surf Cat]

Detached single family with condominium ownership. I know that either can be used but just taking a census if you complete them on the 1073 or 1004?

if you're talking about two on a lot with a shared driveway with the plat map showing a lot split with two different APNs.....1004.

 

[gregb]

If the legal description states condo ownership interest, 1073.

 

[Dublin ohio]

Detached single family with condominium ownership. I know that either can be used but just taking a census if you complete them on the 1073 or 1004?

1004 is for site condos. Does it actually have a site or is the footprint of the condo the "site". Site condos are rare around here, but detached condos are pretty common and they do not have a separate site

 

[gregb]

VA sticks to 1073 for site condos.

 

[alebrewer]

I prefer the 1073 for condos as site condo's don't have a site, so no CA.

 

[gregb]

I prefer the 1073 for site condos as site condo's don't have a site, so no CA.

Not so in CA.

https://www.condohotline.com/blog/15206-understanding-the-difference-between-a-condo-and-site-condo/

 

[timd354]

Why are people too lazy to lookup the Fannie guidelines which are easily accessible and instead come onto the AF to ask such a simple question and then recieve answers from a bunch of people that, while it includes some people who know what they are talking about, includes a lot of morons who are ignorant of the actual guidlines or other requirements?

 

[timd354]

I prefer the 1073 for site condos as site condo's don't have a site, so no CA.

What are you talking about? A site condo is not called a "non-site" condo for a reason....the site is the condo unit and may or may not include an improvement on it.