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c. Site Condominium (08/19/2024)
i. Definition
A Site Condominium refers to:
• a Condominium Project that consists entirely of Single Family detached dwellings that have no shared garages, or any other attached buildings; or
• a Condominium Project that:
o consists of Single Family detached or horizontally attached (townhouse-style)
dwellings where the Unit consists of the dwelling and land;
o does not contain any Manufactured Housing Units; and
o is encumbered by a declaration of condominium covenants or a condominium
form of ownership.
ii. Required Analysis and Reporting
The Appraiser must report the appraisal on Fannie Mae Form 1073/Freddie Mac Form 465, Individual Condominium Unit Appraisal Report.