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How are condominiums assessed?

April 26, 2017assessed condominiums

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Posted

How are condominiums assessed?

2 Answers

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Robin Phillips Posted

Condominiums comes with unique features hence it is the most popular way of owning a home. Condos have their own bylaws and rules hence they have assessed differently as compared to the single homes. Condo association generally has some charge assessment and special assessments. Community make some assessment to maintain the common areas . Condos special assessment is used when some kind of special maintenance is needed. Know more and detailed information here:

http://homeguides.sfgate.com/assessment-condo-association-57821.html

http://www.prweb.com/releases/2013/11/prweb11364917.htm

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Posted

Assessments on condominiums units are determined based on those units that have sold, using the sales comparison approach. Property characteristics of condominium units that have sold are compared to determine which characteristics are important and the extent to which they are important, in explaining market sales.