Reply to What is a piggyback duplex?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]You would only own unit #1. Basically its a stacked townhouse with 2 units, usually 2 floors up and 2 floors down but sometimes different configurations.[/quote]

Not in this case. Read the listing 'condo built w/ exacting detail w/ LL rental unit - could generate $1,500/month.' It says the unit owner would ALSO own the basement rental. At $1,195,000 it looks like a good deal. [/quote]

But if you look at the HOA, it's $200-something per month per unit. So if you're buying the whole building, why would you pay an HOA for two units that occupy the whole building?[/quote]

PP here - that I agree with. It's a PITA to buy 'condos' in those townhouses broken up into 1-4 units because of this...among other reasons. Why would I pay $200-$400/mo in HOA fees for what is effectively a house? But if you own both of these units maybe you could just think of it as 'HSA' for your house repairs when needed.

[/quote]

If I own the whole house, aren't I, the owner, in charge of the condo association? And I set the fees, if any. I'm not sure how it works, but if I'm not interested in having the whole property split as a condo, can't I operate it in the way I choose, and do away with the condo association (me?)?[/quote]

That's an interesting question. The (two) properties have already been deeded and licensed as separate units. So could you re-zone them as one entity I don't know? For insurance purposes you'll have to keep the HOAs at least for the bare minimum costs because that's where your taxes and insurance are automatically deducted from.[/quote]

I reached out to the listing agent. It's a duplex with a unit on top of this one that's listed. The bottom unit is the second floor and basement. The basement isn't deeded separately. Who would pay this much to live with someone above them? Good lord.[/quote]
No one. Hence why they created a deceptive listing. [/quote]

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