Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

A Realtor and tech guru is battling housing affordability in California's Silicon Valley area with a new service that seeks to form home-buyer groups for the collective purchase of small apartment buildings. Bill Ricardi, founder and CEO of HomeSplit.com and a Realtor for Windermere Silicon Valley Properties in Mountain View, Calif., said the new service "is somewhere in between a house-hunter dating service and one of the most technically advanced ways to do tenants in common." Tenants in common is a legal agreement through which buyers form a group to purchase property. In this type of arrangement the group owns the entire property and individual members may have different ownership shares. Tenants-in-common arrangements are sometimes used by domestic partners who share a single unit o...