We are building 4 attached-townhomes for rental. If 10 years later want to sell them individually, can we get a condo plat then? Or we have to get a "Condo Plat" done before the construction is finished?
If we can wait to get it done until we are trying to sell the unit individually years later, of course we would want to wait, not to spend the money until we have to.
However, will there be any benefit to have it done now while we are building?
Any idea how much roughly it will cost to do a "Condo Plat" in central Texas area?
1 Answer from Attorneys
You can wait and are not REQUIRED to get the condo plat now. I have a client with the same issue and we just plotted his condos so he could sell them individually.
The benefit of doing it now is that your buyer won't have to wait for the process if you find a buyer anytime soon.
The cost is about the same. Attorney's differ on rates but it will be about $3,500 if there are no curative issues.
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