PUD or not? Condo regime, developer controlled HOA with no fees

[Dublin ohio]

I just don't know what determines if it is a PUD or not.

Here is the link to the Fannie PUD guidelines. Note this statement in first section

• "the subject unit must not be part of a condo or co-op project."

B4-2.3-01, Eligibility Requirements for Units in PUD Projects (03/03/2021)

selling-guide.fanniemae.com

 

[Ariba]

If the unit has a HOA then it is a PUD regardless of the $0 fee. There could be a fee in the future.

 

[Fernando]

A condo is not a PUD. Do you know the difference?

 

[Ariba]

A condo is not a PUD. Do you know the difference?

Apparently, you do not.

 

[Fernando]

Apparently, you do not.

Don't confuse the OP. It's a condo, not a PUD.

 

[Ariba]

The county document for the development is titled "Declaration of Condominium Regime" (Texas)

But, the units are wholly owned from the siding on in, not just the interior airspace.

I just don't know what determines if it is a PUD or not.

Based on the “Declaration of Condominium Regime” the appraisal must be done on the 1073 form. Also, if there is a HOA the PUD box must be checked.

 

[Fernando]

Based on the “Declaration of Condominium Regime” the appraisal must be done on the 1073 form. Also, if there is a HOA the PUD box must be checked.

On 1073, there's no PUD box to check.

 

[Ariba]

On 1073, there's no PUD box to check.

Then the question is mute. Expect the wrong form was used for the condominium and since the 1004 form was used, therefore the PUD box must be checked on the 1004.

 

[Fernando]

Then the question is mute

Even I get confused. I was looking at my recent condo appraisal and I accidentally mentioned it in PUD subdivison.
When attached townhome condo, it looks like PUD.

 

[TC]

moot