A Planned Unit Development (PUD) is a community of homes that could look like single family residences, townhomes or condos, and can include both residential and commercial units.
PUD refers to the fact that the land can have a single family residence, townhome, condo or even commercial unit built on it. This flexibility in zoning and civic planning allows schools, shops, churches, retirement homes, hospitals and recreation facilities to find their way into what would traditionally be a residential district.
A PUD can be entered into the MLS multiple times concurrently- one listing for each applicable property type.
Click here for instructions on how to do so. This article covers the listing input process, as well as how to maintain the listings throughout their life cycle and what to do when the property is sold.
There is sometimes confusion over the difference between a PUD and an HOA (Homeowners' Association). The main distinction between the two comes down to ownership of the land.
A PUD is a community in which individual unit owners have ownership of their home, their lot, and the common area. The difference between an HOA-run condo townhome and a PUD townhome is who owns the land on which the structure sits. In a condo situation, the association owns the land.
Both Fannie Mae and Freddie Mac consider property as a planned unit development (PUD) if the development that has all of the following characteristics:
1. The individual unit owners own or have a leasehold interest in a parcel of land improved with a dwelling. This ownership is not in common with other unit owners.
2. The development is administered by a homeowners’ association that owns or has a leasehold interest
in and is obligated to maintain property and improvements within the development (i.e. greenbelts,
recreation facilities, and parking areas) for the common use and benefit of the unit owners.
3. The unit owners have an automatic, non-severable interest in the homeowners association and pay
mandatory dues or assessments.
4. Zoning itself is not a basis for classifying a project or subdivision as a PUD.
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