By Rusty Bradshaw | Independent Newsmedia
Real estate professionals want to see some changes that clarify condominiums vs. other types of housing to avoid confusion and problems in sales.
Identifying duplexes, quads and other types of homes as condominiums not only creates confusion, but has properties appraised incorrectly and is causing some loans to be denied for FHA funding, according to Ermilinda Evans of Award Realty in Sun City. She said there are only four condo associations in Sun City, not 386 as quoted by Sun City Condo Owners Association officials and others.
“The term condo is loosely used,” Ms. Evans said. “People believe if there is a common area or adjoining walls it is a condo.”
