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.
Some insight to SF Realtor speak...
30+ years of San Francisco Bay Area real estate boom and bust cycles, as eloquently explained by our expert chief market analyst, Patrick Carlisle.