Charles asks…
Who owns the land underneath a Detached condo ? HOA ? And what is the worst that could happen to Condo owners?
I am planning to buy a 1800 sq.ft Detached condo (4500 lot) but some appraiser forums & reports have me really scared that I do not own the land below it nor the walls, only the interior. And hence the appraisal value is a lot less compared to SFR of similar specs ?
So what happens if the house gets blown away or gets burned down. I believe the insurance will pay for the re-built ? right !?
Anne answers:
This is normal for condo's,
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