DEAR BOB: About three years ago, I bought a tenancy-in-common (TIC) in a six-unit apartment building. The building is very "upscale." But the owner couldn't qualify for a condo conversion due to lack of enough parking spaces. I knew there was one master mortgage on the building and I was obligated to pay my share of the mortgage and expenses. We all get along great, everyone pays his or her share every month, and there are no problems. However, now I need to sell my TIC because I am moving to Los Angeles. But I am having great difficulty finding a realty agent to list and sell my TIC. I even tried advertising "for sale by owner" in the newspaper. Any suggestions? --Wendy R. DEAR WENDY: A TIC is a poor substitute for a condominium conversion. I fully understand all the reasons a property owner would create a TIC instead of a condo. Purchase Bob Bruss reports online. But the result is a very constrained TIC resale market. Many real estate brokerages refuse to accept TIC listings because...
by Inman | on Feb 14, 2017
by Ingrid Burke | 3 days
by Teke Wiggin | on Feb 15, 2017
by Gill South | 2 days
by Teke Wiggin | 2 days