Profile picture for wen tgtw

Title confusion

how to tell if a house is detached condo or actual single family home? I thought the one i'm getting is actual single family home but upon getting pre. title it shows  CONDOMINIUM!!! I have contact my agent already but what can I do now? 

  • August 09 2014 - Ventura
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Answers (5)

Very common in Ventura county....

CONDO is a FORM of ownership, not style .... you can actually have a detached SFR which is listed as a CONDO, not as a Fee simple home. A condo you only own airspace and a % of the HOA which owns the structure, a fee simple you own the structure and LAND. 

Use this link to find out via the Ventura County assessor what it is........

Dont fret, all other homes within the tract will be the same, and the value should really not be affected.... There are a few tracts in VC and Santa Clartia area that are like this...

 
  • August 09 2014
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Profile picture for wen tgtw
I spoke to my agent today. She said she had several transactions in the same area before but this is the first time she saw condominium on the preliminary title report. Now we are going to contact title company for clarification. She was able to run another title report for the same house but it lists as single family home. Online free title search shows single family home. County assessor search shows single family home. hummm Very odd.
  • August 09 2014
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Profile picture for Hannah Tai Homes
You should have a time period in your contract for the sellers to provide HOA docs if it is a condo, so if you decide to back-out now, you probably will not have a difficult time. If by chance it was actually disclosed that it's a condo, you still should be entitled to receive and read through any HOA docs within a given time period. Read your contract, and talk to your agent!
  • August 09 2014
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In my experience, detached condos have very similar values to detached SFR's. It shouldn't have much impact on the value unless it has some common features with any of the neighbors beyond yard fences or walls, but have your agent make sure by running apples to apples comps.
  • August 09 2014
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Wait for your agent to get back to you.
  • August 09 2014
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