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How Easy Is It To Sell A TIC Property?

Selling a TIC (Tenants in Common) property can be more challenging than selling a traditional property because of the complexities involved. TIC ownership allows multiple owners to own a portion of a property, and each owner has the right to occupy and use their respective share of the property.

Here are some of the factors that can make selling a TIC property more challenging:

  1. Co-ownership: Since multiple owners share ownership of the property, all owners must agree to sell the property. If one owner is not willing to sell, it can complicate the process.
  2. Financing: Obtaining financing for a TIC property can be more difficult because it’s not a standard mortgage. Lenders may have specific requirements for TIC loans, and interest rates may be higher.
  3. Valuation: Valuing a TIC property can be tricky because it’s not a traditional sale. The value of each owner’s share of the property is based on their percentage of ownership, and it may be challenging to determine a fair price.
  4. Marketing: TIC properties may have a smaller pool of potential buyers, which can make marketing the property more challenging.

Overall, selling a TIC property requires careful planning, communication, and coordination among the owners. It’s important to work with experienced professionals, such as a real estate agent and attorney, who have expertise in TIC ownership to ensure a smooth and successful transaction. 1031 Exchange Place can help you with all the challenges that come with selling your share of a TIC property.