How to get TIC(Tenant In Common) sale comparables

[John Hassler]

? Who wrote the blue copy?
Tenancy in common is a form of divided ownership between parties regardless of whether the property itself is a house, a farm, a commercial building, a condo, etc.

I understand your opinion but TIC has taken on a quasi new meaning, at least in CA and especially SF.

Click on the ‘blue’ in my original post it’s a link. Or better, do your own research, start with “tic San Francisco”. There’s a lot of information out there.

 

[Fernando]

99.99% of appraisers don't understand TICs in relation to SF.
TIC is a term used in SF for units that are waiting to be converted into condos. It may take 10 years being on waitlist lottery.
There are a long list of rules to be eligible for tenant to own a TIC in 2-4 unit bldg.
If OP wanted info on Tenants In Common, OP would have stated it.
In this context, TIC is a type of property to be purchase as condo wannabee.

 

[Sadie]

I understand your opinion but TIC has taken on a quasi new meaning, at least in CA and especially SF.

Click on the ‘blue’ in my original post it’s a link. Or better, do your own research, start with “tic San Francisco”. There’s a lot of information out there.

Ok, sure there a PITA, but TIC has to do with vesting. Re-reread the definition of market value- I posted it above. Here is the pertinent part: The appraiser assumes that the title is good and marketable and will not render any opinions about the title.

A problem may exisit on the lending side if the purchasers are TIC, but again how the property is vested is not an appraisal issue. Don't over think it. Also remembe that your MVE is not reliant on subsequent event like approval of a mortgage loan.

If your subject is a TIC, then probably everything in the building is vested that way. If its an SFR, then its a UW problem.

I did just google it and they have taken on a whole new life there in SF.