The most important difference between condos and TICs is the availability and quality of financing.
In San Francisco property sales, the seller is responsible for paying the transfer tax. However, in new development where the seller is a sponsor or a developer, the buyer often pays this transfer tax.
The Transfer Tax Rate for the City and County of San Francisco, payable upon transfer of Real Property, is calculated as follows:
More than $100 but less than/equal to $250,000 $2.50 for each $500 or portion thereof
More than $250,000 but less than $1,000,000 $3.40 for each $500 or portion thereof
$1,000,000 or more but less than $5,000,000 $3.75 for each $500 or portion thereof
$5,000,000 or more but less than $10,000,000 $11.25 for each $500 or portion thereof
$10,000,000 or more but less than $25,000,000 $13.75 for each $500 or portion thereof
$25,000,000 or more $15.00 for each $500 or portion thereof
Be sure to calculate transfer tax when considering selling your home.
Has your Realtor ever referred to an area or neighborhood by a certain District number? If so, here is a cheat sheet for you, to sharpen your skill as a buyer or seller.
District 1 (Northwest): Sea Cliff, Lake Street, Richmond (Inner, Central, Outer), Jordan Park/Laurel Heights, Lone Mountain
District 2 (West): Sunset & Parkside (Inner, Central, Outer), Golden Gate Heights
District 3 (Southwest): Lake Shore, Lakeside, Merced Manor, Merced Heights, Ingleside, Ingleside Heights, Oceanview
District 4 (Central SW): St. Francis Wood, Forest Hill, West Portal, Forest Knolls, Diamond Heights, Midtown Terrace, Miraloma Park, Sunnyside, Balboa Terrace, Ingleside Terrace, Mt. Davidson Manor, Sherwood Forest, Monterey Heights, Westwood Highlands
District 5 (Central): Noe Valley, Eureka Valley/Dolores Heights (Castro, Liberty Hill), Cole Valley, Glen Park, Corona Heights, Clarendon Heights, Ashbury Heights, Buena Vista Park, Haight Ashbury, Duboce Triangle, Twin Peaks, Mission Dolores, Parnassus Heights
District 6 (Central North): Hayes Valley, North of Panhandle (NOPA), Alamo Square, Western Addition, Anza Vista, Lower Pacific Heights
District 7 (North): Pacific Heights, Presidio Heights, Cow Hollow, Marina
District 8 (Northeast): Russian Hill, Nob Hill, Telegraph Hill, North Beach, Financial District, North Waterfront, Downtown, Van Ness/ Civic Center, Tenderloin
District 9 (East): SoMa, South Beach, Mission Bay, Potrero Hill, Dogpatch, Bernal Heights, Inner Mission, Yerba Buena
District 10 (Southeast): Bayview, Bayview Heights, Excelsior, Portola, Visitacion Valley, Silver Terrace, Mission Terrace, Crocker Amazon, Outer Mission
Some insight to SF Realtor speak...