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APPRAISING THE INDIVIDUAL CONDOMINIUM HOUSING UNITBULLETIN CP-9June 1993BY LARRY DYBVIG, AACIWhile the valuation of a condominium - or strata title (the terms are synonymous) - unit may at first glanceseem simple and straightforward, there are a number of pitfalls that can snag the unwary.MEASUREMENTSConfusion can arise when identifying the floor area of a condominium apartment, due to the differentways that may be used for expressing floor area. Strata lot size may well not equal livable area. Also,creative marketing can swell the size of an apartment unit by including a balcony, patio, or even parkingstalls, for example.The applicable Condominium or Strata Title Act specifies how the boundaries of individual condominiumunits are to be identified. In British Columbia, for example, the boundary is the centre of the floors, wallsor ceilings, as the case may be, however, discretion is left to the Registrar-Land Titles for defining thelimits of balconies, patios, private yard areas, garag...