Imagine you’re browsing SF home listings and you stumble across a comfy looking condo that for some reason is priced markedly below even similar units in the same neighborhood. And it’s branded with some mysterious letters: “TIC.” What to make of this conundrum? Even those who have already gotten their feet wet buying and selling … Continue reading Demystifying SF’s Tenancy-In-Common Condos
Answering the oh so common question in San Francisco real estate, “How much more valuable is a Condo than a TIC (Tenancy In Common)”, RealDataSF.com takes us there in a chart: [Update: If you saw a chart before that was different than this one…that was the wrong one. This is correct.] [Update 2: From “Garrett” … Continue reading TIC Versus Condominium, Which Holds More Value?
Where readers ask and we (the community) try to answer: Hi! My husband and I are considering purchasing a TIC unit in the Marina. The owners currently have fractional loans through the Bank of Marin. If we did purchase, would we be locked in to their loan rate/term or could we negotiate? Could we work … Continue reading Ask Us: Do We Have To Use Bank Of Marin?
Pulled from the intertubes: “Does anyone have experience with a client who bought into a 2 unit TIC and paid all cash and the partner had a loan? In particular, what type of legal protection did they get in case of loan default by the mortgaged TIC partner. Answers ========================= It should be covered under … Continue reading One Partner In A TIC Defaults, The Other Paid Cash: What Happens