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.
30+ years of San Francisco Bay Area real estate boom and bust cycles, as eloquently explained by our expert chief market analyst, Patrick Carlisle.
Inventory circumventing $1.5M - $2M homes in San Francisco are predominantly located in Miraloma Park, West Portal, Monterey and Diamond Heights, and Ingleside Terrace. This is followed closely by Noe and Eureka Valley, Glen Park, and Corona Heights.