Does it have to have a common wall to be a townhome?

[KJR2008]

Subject property has the apperance of a townhome however it does not share a common wall, its "free standing" in a row of about six similar units all about six inches apart, tax record indicates it is not a townhome. Plenty of comps to choose from, look identical, simlar lot size and GLA, however they share a common wall. Would it be a mistake to use the common wall units as comparable properties. I am of a mind that buyers of the subject would also considered the units that share common walls? appreciate you thoughts

 

[Lee Lansford]

Subject property has the apperance of a townhome however it does not share a common wall, its "free standing" in a row of about six similar units all about six inches apart, tax record indicates it is not a townhome. Plenty of comps to choose from, look identical, simlar lot size and GLA, however they share a common wall. Would it be a mistake to use the common wall units as comparable properties. I am of a mind that buyers of the subject would also considered the units that share common walls? appreciate you thoughts

There's a couple of things going on here:

#1: "It" is not a townhome. "It" is a SFR detached.

#2: "Comps" are "market substitutes for the subject". Look to the market for your answer.

What? None of the "similar units" or the subect have ever sold? Assuming that some have previously sold, would these not provide you with the basis of comparison to otherwise similar, but attached, dwellings (and, other SFR detached)?

 

[Smokey Bear]

<sigh> Townhome is a style of home, narrow two story, often attached....... It is not a legal reference. If your subject is not attached, you have two choices: SFR detached or condo. You figure out which it is by looking at the legal description. Probably what you've got is a row house (style, not legal description). If you're talking about filling out a form, it's SFR detached. BUT you should be using similar properties, meaining zero lot line type townhomes, detached. </sigh>

 

[Don Clark]

<sigh> Townhome is a style of home, narrow two story, often attached....... It is not a legal reference. If your subject is not attached, you have two choices: SFR detached or condo. You figure out which it is by looking at the legal description. Probably what you've got is a row house (style, not legal description). If you're talking about filling out a form, it's SFR detached. BUT you should be using similar properties, meaining zero lot line type townhomes, detached. </sigh>

I appraised a property a few years ago where the subject looked exactly like a townhouse/townhome. The only difference was there was only 1 unit attached to it and no other similar units on the street or in the neighborhood. It was the size, similar design, and similar utility as a series of townhouses over a mile away. I used sales in the townhouse development as comparables, explained whay and never had a question raised about it.

Some townhouses do not always have a brick or concrete "common wall". I know. I own one. It has a wall made of composite material and soundproofing material. Last year I had $36,000.00 in water damage to my townhouse and the one next door due to old style plastic pipe in my unit springing a leak. The unit next door never had a chance. They had $32,000.00 in damage. When the restoration company was working on the 2 townhouses, mine and the one next door, you could walk fron my townhouse through the wall to the one next door. The entire 15 units were built with no brick or concrete wall between the units. And, no, they are not condominiums. They are townhouses.

In any case where you have to compare a property to other properties that are not the same but have some similarity, the best you can do is explain so the reader understands. God created a perfect world, man did not. So we have odd balls, and mis matches here and there. I have also had to use single family detached to compare to a duplex style property due to lack of duplex or similar properties. We don't create sales, comparables, we have to use what is available. Explain twice and report once.

 

[Smokey Bear]

And, no, they are not condominiums. They are townhouses.

Again, townhouse is a style, not a type of ownership. You're talking apples and oranges.

 

[Don Clark]

Again, townhouse is a style, not a type of ownership. You're talking apples and oranges.

I understand that a condo is a form of ownership. I have stated that well over 3,000 times on this forum. But, in some parts of the country folks wrongly believe that a TH and a condo are one and the same. For those small number of folks I made the distinction.

It is also confusing in that we have a property owners association of which I am the President, and a mandatory fee for grounds maintenance, pool maintenance, roof maintenance, and some portions of the exterior of the buildings maintenance. That makes us a PUD for Fannie Mae purposes but the zoning is not PUD.

I get calls regularly from appraisers and real estate agents on the OBX that are trying to figure out exactly what the townhouse's are in "Dune Tops". I have all the documents in file including a plat map that shows ownership of everything on the footprint is individual ownership.

 

[incognito]

I believe that implicit in the definition of townhouse is "attached". Perhaps what you have is a zero lot line detached property?

 

[Don Clark]

I believe that implicit in the definition of townhouse is "attached". Perhaps what you have is a zero lot line detached property?

Which post are you referring to? If you are referring to the OP, I agree. 6" can make a lot of difference.

 

[DMZwerg]

I believe that implicit in the definition of townhouse is "attached". Perhaps what you have is a zero lot line detached property?

I would tend to agree. Marshall & Swift* lists Town Houses as ATTACHED SF residences but do not have more than two walls in common.

* - easiest somewhat authoritative source I could find.

 

[Ms. Janet]

I lost my train of thought...