San Francisco Condos VS. TIC Units - Learn About The Pros & Cons In This New Article

San Francisco Condos VS. TIC Units - Learn About The Pros & Cons

The real estate market can be a confusing place, and it's all the more complex for buyers and sellers interested in condominiums and tenancy-in- common contracts. The latest guide from Black Label Real Estate makes things simple, so you understand everything before you buy or sell.

The article is the most recent addition to the company's range of valuable and informative resources on the property market in Sonoma Country, Napa County and the East Bay area. Black Label Real Estate's article has been developed alongside the company's extensive real estate services, including property valuations, marketing and sales negotiations that make your property journey easier.

The guide begins by outlining the ownership details of both a condominium and a tenancy-in-common, stating that with the former, each property owner solely owns their own condo, but in the latter, each owner purchases an undivided interest in the same property. Each owner could argue their right to have access to all and every part of the entire property - not just the part they reside in.

For TIC owners, your agreement should state that you have exclusive occupation rights of a particular unit, and non-exclusive rights to specified common areas. Elsewhere in the article, the author details the differences in rules for TIC and condominium ownership, explaining that for condo owners, there are state laws in California that apply to the HOA, creating a baseline set of rules that must be adhered to.

In the case of TIC agreements, there are no similar rules in place, as each agreement is considered to be a private contract that’s unique from property to property - and is entirely ungoverned by local or statutory regulations. Black Label Real Estate is the luxury real estate agency you can rely on for valuable, informative articles and insights into the property market, to make your buying and selling process simple.

Go to http://blacklabel- realestate.com to find out more.