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What is a Condo? Explained in 97 Words

Michael Nolen of Coldwell Banker Realty
by Michael Nolen of Coldwell Banker Realty on February 8, 2021 at 2:00 PM

A condominium, or “condo” for short, is an individual unit privately owned within a building of other units.

Condo buildings and townhouses can be owned in the form of a condo. Private ownership is from the exterior walls in and a percentage of the common areas. Here’s a few common area examples…

  • Pools
  • Garages
  • Elevator
  • Outside hallways
  • Lobbies
  • Parking lots

All owners within the condo building make decisions together and follow rules established by By-Laws and Declarations. The condo association and board of directors oversees the covenants, conditions, and restrictions. Owners elect the board of directors.





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Michael Nolen of Coldwell Banker Realty
Michael brings a diverse background of mortgage, loan servicing and housing experience. Michael offers his clients a variety of helpful resources, guides and services that helps make buying and selling coastal real estate in the Ocean City, Ocean Pines, and Coastal Delaware markets. Michael has over 11 years industry experience and invests and manages vacation rental properties in the Ocean City, MD area through Nolen Invest and Nolen Vacation Rentals.
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