What Does Building Pocket Mean? I remember hearing the term ‘pocket lot’ years ago and thinking what are they talking about? It turns out that the definition of a building…
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What are Unit Factors in Condominiums? Condo unit factors are used to define the portion of ownership in a condominium building or complex. They are much like ‘shares’ in a company…
What Does Condominiumized Mean? To condominiumize something means to change an existing building or complex into condominiums (condos). Real Estate Agent Explains Condominiumization In years where the housing economy is really hot,…
What is a Jack and Jill Bathroom? A Jack & Jill bathroom is a bathroom that opens onto two separate bedrooms. That is, it is a bathroom that is between two bedrooms and…
What is a Special Assessment? In real estate, a special assessment is a levy related to a condominium for the purposes of paying for a project or replenishing an underfunded reserve….
What is a Material Latent Defect? A material latent defect is an important issue with a property that is hidden. Real Estate Agent Explains Material Latent Defects We have all heard…