Fee simple townhome vs normal townhome

Fee simple townhome vs normal townhome

Investor · Atlanta · Member since 2019 · 597 posts · 99 votes

hi,
One person selling fee simple townhome. I never owned fee simple townhome. How it is different from normal townhome. He said roof is owner responsibility as each roof kind of separated by wall. He said Hoa manages landscaping . He said in front of each unit two parking spots there for that unit. I asked any numbering but he is not giving answer which make me think no numbered reserve parking which I never saw in any townhome. I am not fan of hoa and controlling rental lease permits etc. Does fee simple townhome do not control lease permits? What are pros and cons of fee simple townhome vs normal townhome. Old advice

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  • Jim SternBusiness Member
    Real Estate Agent · ATLANTA Metro and Surrounding Counties · Member since 2025 · 38 posts · 13 votes
    2w

    Good question to ask before you write an offer. With fee simple you own the structure and the land under it. With a condo-style townhome you own the interior, and the association owns the exterior and the ground. The catch is that rental restrictions come from the HOA's recorded declaration, not from the type of ownership. A fee simple community can still cap rentals, set minimum lease terms or require approval. In due diligence, get the declaration, any amendments and the current rental policy in writing, and confirm whether parking is assigned on the plat or just first-come. Also price insurance correctly: fee simple usually means a full dwelling policy that covers the roof, not an HO-6. Financing tends to be simpler, since there's no condo project review. Happy to look over the docs with you if you want to DM me.

    Atlanta's Investor Friendly Team533 Reviews
  • Investor · Atlanta · Member since 2019 · 597 posts · 99 votes
    1w

    Thank you for your great feedback

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