What source provides the proper method of measuring condominiums?

In Selling Property - Asked by Mark F. - Jan 17, 2012
Report Abuse
Answer this Question

Answer(s)

Rob M.
Lender/Mortgage Broker
Houston, TX

Think airspace.

Jan 17, 2012
Report Abuse
Jasmine J.
Broker/Agent
Crofton, MD

Hi Mark,
If you are selling a condo unit that you own, it's best to use the sq ft information provided in your tax records. If you want to provide the most accurate an updated information you can opt to have an appraiser determine that, and have the information included in the appraisal report. The later is also best use for the entire building. Hope this helps.

Jan 20, 2012
Report Abuse
Chris R.
Broker/Agent
Denton, TX

Have used a space planner, architect, surveyor, appraiser in the past. All should come up with the same approx SF. Document the source, Get a floor plan with measurements on it. Check the legal documents - may contain the specifics for each condo in the property as each condo constitutes a part / % of the whole of the property as far as ownership.

Mar 15, 2012
Report Abuse
John M.
Broker/Agent
Irvine, CA

Mark,
The best answer is looking at your CC&R's. They should have an allocation to your ownership of the entire project.
The tax records are mostly correct but we have found them to be inconsistent. I would guess there is an addendum to the CC&Rs that lists all the condos and the % owned.
The other way to check is the "Condo Map" This is the instrument that gets recorded at the county by the original developer-this is where that tax assessors gets is info.

Apr 8, 2012
Report Abuse

Welcome to Answers

LoopNet Answers is where the commercial real estate community shares what they know to help each other out. And it's all for free.

Ask a question to get advice from brokers, investors, professionals and local experts.

Answer questions to raise your visibility as a trusted advisor and build new relationships.

Ask a Question

Post Question