‹ $8,000 Tax Credit will NOT cover a $40,000 mistake! •
The distinction between condominiums and townhomes escapes a lot of folks. And many agents, too.
So I did a little Real Estate Show test from photos of buildings in Raleigh, Cary, and Apex.
Play the photo show below and on a piece of paper indicate whether each of the 15 structures in the photo is a condominium or townhome.
See, you can’t really tell by looking at a building.
You MUST look at the legal description to determine whether you are looking at a condominium or a townhome.
The difference is not the appearance of the structure, but how it is legally described and titled.
Since it can be very difficult to borrow money on a condo, it is certainly clear that the agent, and the seller and buyer know what animal they are dealing with.
After taking the test, hit the “Details” button to see how you did. Answers are listed for 1-15.
Tags: , apex, cary, condo, NC, north carolina, Raleigh, townhome
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April 2, 2009 at 9:32 am
hal990
Interesting content - a quiz!
Let’s talk about this next week.