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Connecting homeowners who want to sell with tenants who want to buy 

California residential real estate is among the most expensive in the nation. This is particularly true for single family dwellings. The scarcity of available condominiums has driven up prices as well, but renting shouldn’t be the only options. This is where ‘Tenants In Common’ or TIC ownership comes in. 

With TIC ownership, the renter can buy a unit of rental property at a mortgage price comparable to the rental price. The mortgage can be acquired with as low as 10% down payment, and oftentimes the homeowner selling the home may be willing to finance part of the down-payment. 

When you live in a TIC unit, you will make monthly mortgage payments, build equity with each payment and contribute to your future financial security. 

When it’s time to move on to a different property the TIC owner can rent their property to another or sell the unite to the next owner. 

To overcome the limited supply of new condos, many investors and home seekers are willing to purchase rental properties and convert them to personal residences. While the current rent control laws and zoning codes make it difficult to convert to condo, the TIC process is the only path to conversion and ownership of these historic properties. 

We’ve created a network of both landlords looking to sell and tenants looking to buy. For more information, or to join our TIC network and find out about our new TIC offerings, please contact us. 

Information on TIC from Sterling Bank & Trust.
2019-11-04T19:25:31+00:00 November 4th, 2019|Uncategorized|