Condo For Sale
What is a Condo?
Condominium is a Type of Ownership
The building shape
could be a high-rise, a mid-rise, a townhouse, a garden up or down, or a
villa, either attached or detached from other units. When you buy a condo,
you have exclusive ownership rights to the interior space of your
particular dwelling unit but you own the common areas (walls, grounds,
fences, facilities) with the other owners in the complex.
Condo owners are
not free to remodel at will. Condominiums are governed by CC&Rs
(Covenants, Conditions & Restrictions), which dictate owners' rights, and
restrictions on those rights. For example, the CC&Rs may prohibit you from
painting the outside of your unit green, even though green might be your
Benefits of Condos
Condominium is very similar to owning other real estate. A condominium
comes with a deed and is very much like owning other types of real estate
in terms of financing, taxes, etc, with the added benefit of carefree
Maintenance of the
condo complex, however, is shared to some extent by the other co-owners.
When you buy into a condo or townhouse complex, you become a member of the
homeowner's association. As a member, you pay monthly dues to the
association. Your dues will normally cover the management of the
homeowner's association, hazard insurance for the complex and a certain
amount of routine maintenance. Precisely what is covered by the
homeowner's dues will vary from one complex to the next.
What is a co-op?
A co-op is also a type of ownership
When you buy a
Co-op, what you actually buy is a proportionate number of shares in
the corporation that owns the building. The corporation in which you
are a shareholder then issues you a proprietary lease entitling you to
live in the unit you have purchased.
Financing, the manner in which sales are recorded, rules and other details
are sometimes different for Condos than for Co-ops.
What are the House
is a detached unit usually with a sole owner of the land it sits on
difference between a house and a condo is that a house stands on its
own--it's a detached dwelling unit. A condo, on the other hand, is usually
attached to other similar units by a common wall or walls.
The ownership interest that you
receive when you buy a single family detached house is an exclusive
ownership interest. You become the sole owner of the building and the land
it sits on.
House owners are
relatively free to modify their homes to suit their personal needs. The
responsibility for home maintenance lies solely with a house owner. Some
houses have a neighborhood or community association. That can involve
neighborhood rules and paying a fee. This can vary from minimal to high,
for example, it could include country club benefits. Condos and Co-op
owners can also be required to pay a neighborhood fee.
Sarasota MLS On-Line, Updated Daily
Complete Database, over 4,000 Properties
Full Time Cedars East Real Estate Agents,
we Preview, Show, List and Sell Real Estate Daily
Werner, REALTOR, Longboat Key Real Estate
We Preview, Show, List and Sell Real Estate Daily
BROKER Nancy Werner
Click HERE to Email Us
Direct Phone: (941) 923-8222
Cell: (941) 587-3418
Please feel free to call after hours or on weekends
Integra Realty Group
Professionals You Can Trust
Sarasota, Longboat Key, Lido Key and Siesta Key
Manatee County & Sarasota County
Professional Realtors, we Preview,
Show, List and Sell Real Estate Daily
Our experience can
make the deal happen: We know of properties that are not on the market
yet, we know the differences in writing Manatee and Sarasota contracts to
save you money and when negotiating a contract our experience can help you
get the property that you want. Ethics counts when you want a level
playing field and hard work is critical when you want the best.
You've got a life. We
help you make it a LIFESTYLE.
Being avid boaters and realtors,
we know the waters, beaches and properties very well. Use the
realtors that know the properties, neighborhoods, schools, other realtors
and lenders. Experience, best work and integrity are top reasons that we
are successful realtors for our customers.
Copyright 1998 - Current WelcometoSarasota.com, All rights reserved
All information is deemed to be correct, but is not guaranteed and is subject to change.