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TIC stands for Tenancy in Common, a form of holding title to real property that is common in San Francisco's housing market.
TIC stands for Tenancy in Common, a form of holding title to real property that is common in San Francisco's housing market.
TICs offer lower interest rates compared to condominiums and single-family homes, making them an attractive option for buyers looking to get into the San Francisco housing market.
Fractional financing is tied only to the buyer's interest in the property, so if a co-owner defaults on their mortgage, the bank would only foreclose on their interest in the property.
Seven lenders currently offer competitive rates for fractional financing, including 30-year fixed rate options.
Property taxes for TICs are paid monthly by all co-owners and a bookkeeper is usually in place to ensure everyone stays on track and avoids default.
TICs are also under San Francisco's rent ordinance, which allows owners to rent their ownership interest but limits rent increases after the initial lease.
TIC ownership offers more square footage for your money compared to condominiums, providing an opportunity for buyers to take advantage of a competitive real estate market.
It is important to work with a real estate agent experienced in buying and selling TICs to guide you through the process and understand the unique differences and potential challenges of each TIC.
Each TIC has its own risks and benefits, so knowing them can help buyers make informed decisions and navigate the San Francisco housing market.
Overall, TIC ownership can be a great way to enter the San Francisco real estate market and become a part of a diverse and vibrant community of homeowners.
I use my ability to “tune in” and gain a deep understanding of a client's needs, whether that’s buying a dream home or getting the best possible price for their current home.
