Buyer's Guide - Step 2

    House

    Single family, multiple family.

    Land

    No Structure on top of the earth's surface.

    Rental

    A permanent rental is never used as living quarters for the owner or any dependents he/she claims on federal tax return, a property owner intends to rent to a renter.

    Condo/Co-Op

    A Condo is a large property complex divided into individual units. Ownership usually includes a nonexclusive interest in certain "community property" controlled by the condo management.

    A Co-Op is a type of housing owned by a corporation made up of owners within the Co-op, meaning you are buying a share of the corporation that controls the co-op, which entitles you to living space.

    Town House

    Multi-Floor homes that share one to two walls with adjacent properties but have their own entrances. In the suburbs, townhouses are often uniform homes built in a distinct community that may have its own homeowners' association.

    Commercial

    Property that is used exclusively for business-related purposes or to provide a workspace rather than as a living space.