• Search Homes
    • My Account
    • Contact Us

Diane SheltonDiane Shelton

Diane Shelton

(314) 497-4685
DShel80907@aol.com
  • Menu
  • Home
  • About
    • Reviews
  • Blog

Purchase of a Townhome

For those of you who purchase Townhomes.  It is important to understand how townhomes differ from other real estate transactions.

• The purchaser of a townhome acquires a lot and that part of the townhome building located on that lot, subject to the interests of the adjoining lot owner in a shared party wall.
• The shared wall or party wall should have an agreement that is recorded dealing with maintenance/upkeep of said wall.  This agreement can be outlined in the subdivision indentures or as a separate agreement.
• Because there is ground owned with a townhome, they will need a survey in order to get survey coverage.
• Most surveyors will only perform stake/boundary surveys in connection with a townhome- so make sure you order early in the process. 
• Townhomes can also be part of homeowners associations and may have a “First Right of Refusal” clause in their indentures.  In this instance, the title company will need the association to sign a waiver prior to closing.
• A purchaser of a townhome will have yard maintenance, however, the subdivision may maintain it for them for a fee.  If a fee is assessed, it would be prorated at the time of closing.

Townhomes are very popular in today’s market and it is important to know how they differ from the typical single family home, condo or villa.  Please feel free to call with any additional questions you have regarding these transactions.

Jack Forsythe   
Legal Counsel
(314) 835-4105

“Secure Your Investment With Security Title”

Posted in: Title Tips

See what our clients are saying!

Post navigation

« All Real Estate is Local by David Lereah
Weekly Residential Activity Report for St. Louis Metro Real Estate »

Contact Expert, REALTORS

(314) 497-4685
DShel80907@aol.com

2 City Place Drive, Suite 200 St. Louis, MO 63141

Follow Us:

Featured Properties

No properties found

Testimonials

© 2023 · Expert, REALTORS · 888-896-5556 · Agent Center · Sitemap · IDX Sitemap
Disclaimer - All Rights Reserved by findingstlouishomes.com

Terms And Conditions | Privacy Policy

Log in ·