Tenancy-in-Common
and Condominium Conversion Financing Whether
you are just starting your Tenancy-in-Common financing
or are near the end of your condominium conversion,
I am the Mortgage Broker with the experience that can
successfully handle your transaction. Just like there
are many nuances to purchasing multiple units and then
going through the condo conversion process, there are
many nuances to the financing involved. For instance,
do you know why:
- ...you should get an adjustable loan and with the
right lender so that "borrower substitution"
will allow you to replace an original buyer without
refinancing the entire property?
- ...you should pick a lender who is familiar with
condominium conversions and will eventually sign off
on conversion maps without charging you an arm and
a leg?
- ...you may or may not be able to get cash out when
you refinance?
- ...you and your Tenancy In Common partners have
to coordinate the closing of your individual loans
with the lender, the title company, and the county
recorders office, so that you all close on the same
day?
- ...your CC&Rs may have to contain arbitration
clauses?
- ...in some instances you will have to incorporate
the homeowners associations, while in other cases
it is not necessary?
- ...your taxes will be separate from your partners
taxes?
- ...you will have to change the nature of your insurance
coverage?
Thankfully for you, I have successfully handled these
and other issues for my condo-conversion clients. Please
call me now to discuss your unique circumstances. I
guarantee it will be a call that will save you time,
money and needless hassles.
Recent Condo Conversion Successes!
3920 20th Street .... Financed one loan in a two unit
conversion.
231-233 Clinton Park .... Financed both loans in a two
unit conversion.
146-A Belvedere St. .... Financed one loan in a three
unit conversion.
284 24th Avenue .... Financed one loan in a two unit
conversion.
206-208 Clipper St...... Financed both loans in a two
unit conversion.
3191 California St...... Financed one loan in a six
unit conversion.
3460 Pierce St..... Financed one loan in a two unit
conversion
72-74 Lynch St..... Financed both loans in a two unit
conversion.
1260 Haight Street, Units 3, 4, and 5... Financed three
loans in a six unit conversion. ".....As we
got closer to the completion of the condo conversion
process, we had Ader come in and address our group.
I was very impressed with his knowledge and experience
in the financing and refinancing of multi unit buildings
in the condo conversion process. From the beginning
he was very forth right, honest, and open about what
would be involved, the possible complications, and he
conducted himself in a very professional and courteous
manner. In essence, Ader guided us through the process
and made sure that when something needed to get done,
it got done in a timely fashion. There were times during
our building refi where Ader's ability to maintain a
calm and professional demeanor was a big benefit to
the process moving forward. I would strongly recommend
using Ader's services particularly for individuals in
the tenancy-in-common and the condo conversion process."
1883 Vallejo and 2552 Octavia..... Financed two
loans in a six unit conversion. "Dear Ader,
Now that we have successfully completed the condominium
conversion of our six unit building at 2522 Octavia
Street, I would like to thank and congratulate you for
the very excellent work you did for us. You arranged
financing for two of the condominium units, but your
most valuable contribution was your meeting with the
co-owners to advise us as to the financial alternatives
available in the marketplace. Excellent work. We look
forward to working with you on our next project."
571-573 Liberty Street... Financed both loans in
a two unit conversion
30 Sanchez Street.. Financed one loan in a two unit
conversion
247 Duncan Street.. Financed one loan in a two unit
conversion
For the latest legal information on Condominium
Conversion and Tenancy-In-Common
from a respected San Francisco law firm, please
click here www.andysirkin.com
and www.g3mh.com. |
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