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Updated over 4 years ago on . Most recent reply

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41
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22
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Ian Broadie
  • Real Estate Broker
  • Gig Harbor, WA
22
Votes |
41
Posts

Condo / Townhouse Conversion in Washington

Ian Broadie
  • Real Estate Broker
  • Gig Harbor, WA
Posted

Hey!

I have a duplex in Gig Harbor and I'd like to do a condo conversion with it. Or a Townhouse. My main question is whether anyone knows an attorney in Washington who has done this in the past who they'd recommend? I met with a general real estate attorney in the area but I seemed to know more about the process than she did just from a little googling and reading on this fine website. Admittedly, she seemed pretty distracted, but regardless I wasn't impressed. I've now dug deeper and I'm seeing that a new survey may be necessary as well (something she hadn't mentioned) and I think I need to talk to somebody a little more knowledgeable.

I also would like to ask for anyones experience with the process? Any horror stories? I also chatted with an attorney who specializes in suing developers who do exactly what I want to do and he did his best to scare me out of doing it (they can sue you for up to four years after the sale of the first condo and one year after you lose majority interest in the HOA) which was very insightful. As a result of this conversation and financing concerns from my lender I'm leaning more towards turning them into townhouses which seem to carry much less liability.

Anyways, what do you think? Due to our duplex having a pretty terrific view and it's location there is tremendous potential but I'm looking for every reason not to do it before I jump in. Thank you!

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Windermere Real Estate
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User Stats

156
Posts
141
Votes
Tatiana Gershanovich
  • Real Estate Investor
  • Seattle, WA
141
Votes |
156
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Tatiana Gershanovich
  • Real Estate Investor
  • Seattle, WA
Replied

You need a surveyor, not an attorney first.

As a first step you need to confirm that your zoning allows zero lot line townhouses.

In Seattle it is referred as Unit Lot subdivision when you assign separate parcels to each building just for the purpose of sale.

As Adrian mentioned above, you definitely don't want to do condos due to liabilities. Just do fee simple townhouses.

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