Evergreene Homes – Wooded Estate Lots, 1 acre lots with Walkout Basements. 4 Amazing lots w/ a home plan for everyone. New Higher Standard Features inc HW floors Main Lev, Hardi Plank Siding, Granite all Baths. Wooded lots walkout to great rear … [Read more]
4 beds, 3 full, 1 part baths
Home size: 4,664 sq.ft.
Lot Size: 45,801 sq.ft.
Added: 03/17/17, Last Updated: 05/24/2017
Property Type: Residential Detached for Sale
MLS Number: FX9890418
Subdivision: The Ridge At Wolf Trap
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From the Nesbitt Realty Media Library
What is a condo?
A condominium is real estate with certain specific properties. Although there are various types of condominiums, the most common legal arrangements involve individual ownership of each unit, with joint ownership of the communal or common areas by all of the residents in the building. Condominium developments can be commercial or residential.
In the case of residential property, a condo can be composed of one or more a high-rise buildings, garden-style buildings, townhouses and—in special cases–even consist of detached houses. While some condominiums are located in large multi-unit buildings, others may be detached form each other and be located in a gated or planned community. Some condominiums may be located in resort or vacation destinations.
Most usually, a condominium is a housing unit or apartment in a multi-unit building in which each unit is individually owned, with common areas and the property in general jointly owned by the residents and the owners of the building, or all of the residents together. So the structures that make up a condominium complex are divided into living units, which are each owned by individuals. Jointly, these unit owners all have an interest in the rights and duties of the common areas, such as the parking lot, lobby, roof, etc.