What exactly are these things in Amityville

[Edward OConor]

Joe,

Who pays the property taxes on the units and common areas?

Does the unit owner have a C/O?

 

[Tony V]

So Joe,

What are those things in Amityville??

 

[Daystar]

Condo/Pud?

Joe,

What seperates a Condo from a Planned Unit Development is a PUD owns the land underneath the unit a Condo does not. That is why Kevin is telling you to do it as a PUD. A Condominium owns whats between the walls. I am simplifying it but thats what to look for when making a determination on how to prepare the appraisal and what comparables to employ.

 

[Edward OConor]

Joe,

What seperates a Condo from a Planned Unit Development is a PUD owns the land underneath the unit a Condo does not. That is why Kevin is telling you to do it as a PUD. A Condominium owns whats between the walls. I am simplifying it but thats what to look for when making a determination on how to prepare the appraisal and what comparables to employ.

How do you then account for the condo units (North Hills and/or Plainview) that have outside private area either patios or decks and allow these area to be fenced. I seem to remember doing 55+ condos in Suffolk with private yards (done 10+ years ago).

 

[Daystar]

How do you then account for the condo units (North Hills and/or Plainview) that have outside private area either patios or decks and allow these area to be fenced. I seem to remember doing 55+ condos in Suffolk with private yards (done 10+ years ago).

Again, If the land underneath the unit is owned in fee simple by the owner it is a PUD... A condo that has fenced area, deck, patio, balcony, common ground etc. but does not own the land beneath the unit is a Condo not a PUD. Its a Condo with amenities. The distinction is who owns the land beneath the unit.