Cohousing-L Mailing List: Re: Bank Lenders to Cohousing TIC

[John Sechrest (sechrest]

I just learned about it by doing some googling around, but I suspect that
you might use this structure to avoid some of the obligations/overhead of
putting a condominium together. It allows for a much lighter joint
engagement. And if done right, it looks like you might be able to get
individual property rates for mortgages instead of commercial/institutional
rates for loans.

But I suspect that there are many sharp edges associated with these types
of choices and would expect to need someone who knows the details like a
local lawyer.



On Sat, Jun 20, 2015 at 3:53 PM, Sharon Villines <sharon [at] 
sharonvillines.com>
wrote:

>
>
> > On Jun 20, 2015, at 4:18 PM, John Sechrest <sechrest [at] gmail.com> wrote:
> >
> >
> > TIC is Tenants in Common
> >
> > Fractional Loans are individual loans to people who have fractional
> > ownership of a property.
>
> Why use this structure?
>
> Is it the same as a co-op? Coops are notoriously hard to finance outside
> of old large cities like NY.
>
> Sharon
> ----
> Sharon Villines
> Takoma Village Cohousing, Washington DC
> http://www.takomavillage.org
>
>
>
>
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John Sechrest      .  Need to schedule a meeting :
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