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
“2010 Condo Lottery: Previous participation may not yield additional tickets Dear Plan C Member, Ticket sales for the 2010 Condo Conversion Lottery have been announced by the city and will begin on Monday, November 23rd (additional information can be found here). As you may be aware, it has been the practice of the City to … Continue reading We Never Said Playing The (Condo) Lottery Would Produce A Win
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?
Where the readers ask and we (the community) try to answer: Hi, just come across your site, very informative. I’m trying to find TIC Fractional Lenders for a 3 unit + 1 unwarranted [unit] building in SF. We purchased it last October, have completed our renovations, 2 units will be owner occupied. We’re planning to … Continue reading Ask Us: Remaining TIC Fractional Lenders
Good news on a Monday morning: -Waiting to go condo is San Francisco’s version of waiting for Godot [seeing that phrase a lot lately…good on ya Malcolm.] Building owners can spend years vying for one of 200 condo-conversion slots awarded annually via a lottery. But this year San Francisco is considering letting people skip the … Continue reading TIC? Got Cash? To The Front Of The Line Please…
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
Where readers ask and we (the community) try to answer: This is a doozy of a question, so put your game faces on: Hi there, Being fairly new at the SF real estate/landlording game, I am still discovering the fascinating mine field of Rent Control laws through the numerous websites on the subject. At least … Continue reading Ask Us: Can Condo Conversion Save You From Rent Control?
For those that aren’t quite aware, there is this great little invention called email that allows you to send questions, comments, topics directly to us. The email is [email protected]. Go ahead, give it a try. ;-) From “Noe Guy“: This is so way off topic, that I sincerely apologize in advance, but we had a … Continue reading Rates Rising For TIC Loans
Well, all, few and far between are homes we can look at and positively say: That’d be a good investment. Yet here is one, that frankly, given the size and location, has to be just that. The downside– yes, sorry, these days there simply has to be one- is that this could be a … Continue reading Vultures, Commence Your Circling
I’m not a Realtor, so I’ll tell something I’m more qualified to comment on: buyers’ perspectives. For instance, I can tell you how buyers looks at a property that’s been reduced more than twice. We feel sorry for them. They’re like awkward teenage boys at their first dance, pretending to be terribly busy with their shoe laces … Continue reading Reduction, Ad Nauseum