Condo, PUD, Co-op: What do these mean?
Many of our clients ask what these mean. See below and feel free to contact me if you have any questions.
- Condos: Walls, floors, and ceilings owned by all residents; HOA dues; covenants, conditions, and restrictions; value depends on the desirability of entire development.
- Planned Unit Development (PUD): Individuals own structure and some land.
- Co-op: Corporation made up of all tenants; larger units have more power in how building is run; fees for taxes, mortgage, repair, improvement; heavy scrutiny of financial, personal history.
- Townhome: Not a form of ownership, but a term for an attached row house.
Contact me if you have any questions.