What's the difference between a condo and a town home?

Most simply put, a townhome owns the land that it sits on. A condo does not.

In General Terms: Condo's usually have someone below or above you where as Townhouses do not. There is a lot more to it, Here is a great article about the differences.

http://realtytimes.com/rtpages/20000629_condotwnhome.htm

The difference comes down to the legal discription, if the word condominium is used in the legal description then it is s condo. Also, a townhome usually has a lot and block description. The biggest issue with condos vs townhomes in the current market is finding financing for a condo, it is getting more difficult to find financing on some condo complexes. It is important to know what financing options are available before you start looking at condos and townhomes.