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Don't Forget To Request A Quick Status Report On Any Homes Or Properties That Interest You!  It can take days, weeks, or longer for changes to appear on web sites. Don't waste your time with less than current information. Request our free Status Report and find out if the homes you are interested in are still on the market, under contract, in escrow, or if the price has been reduced. The Status Report that you'll receive by email will also include other important information that has been left out or that is available to us through our professional resources, such as how long the property has been on the market, when it was last sold, what it sold for, and more. When you click on any link above, you'll see your chosen site, along with a form at the bottom of your screen. Use this form to request our quick Status Report on any homes or other real estate that interests you. It's free and without obligation. Remember: As top Columbia, Ellicott City and Howard County area REALTORSŪ, it's our job to know more about a property than any web site. Make sure you have the most current information!
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Titles >Holding Title to A Condo With condominiums becoming increasingly popular among today's homebuyers, it is a good time to clarify the terms of ownership that seem to confuse many people. Condo-type residences most commonly fall into two categories - condominiums and townhouses.
A condominium is usually a multi-story structure. Each owner-resident has a deed of ownership for his own unit and owns the space within the unit, but not the land under the structure. Therefore, condo units can be stacked vertically. Condo owners share title to the common areas of the development, including land, exterior of buildings, hallways, roofs and swimming pools -- all areas used by all occupants. Each owner pays property taxes on their unit. Also, a monthly fee is paid to the homeowners' association that is used for managing and maintaining all common areas.
A townhouse, or town home community is usually a series of single- or two-story housing units, each linked to each other horizontally by common walls. Each owner hold title to their unit and the land beneath it, thus these units cannot be stacked vertically. Typically, a townhouse unit will be a two-story residence, with the living area downstairs and bedrooms upstairs. Common areas belonging to the townhouse development are owned jointly. Each townhouse owner pays property taxes and association fees.
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| Q |
To what process do the terms closing, escrow, settlement and passing papers refer?
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| A |
These terms, which vary in different parts of the country, describe the conclusion of a real estate sale. |
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