This refers to the process of converting a multi-unit building, such as an apartment complex, into individual condominium units that can be owned and occupied by separate owners. This often involves the creation of a homeowners association to manage the common areas and amenities.
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What does condominium conversion mean?
Related terms
Real Estate Investment Trusts (REITs)
FHA disclosure
Building and Loan Association
Needs-Based Pricing
Contingency Listing
Designer
Sale-Leaseback
Level of Control On a Listing Agreement
Basis Point
Home Equity Line of Credit
Design/Build
Agency Closing
Alternative Mortgage
Accessibility
Common-Area Assessments
Assumption
Electric Service Panel
Programming
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