“If I could afford to buy, I would have already. I'm renting because buying is too expensive.”
The price to purchase an individual apartment as an insider tenant in a Tenacity Group project is consistently far below the market rate for similar condominiums in the area. Insiders in this position can afford to own their homes when they would otherwise find the investment difficult.
The price of individual apartment units is usually calculated as a percentage of the total conversion cost, using the same proportion of square feet a unit is to the total size of the property. For example, if your apartment is 2% of the total number of square feet in your building, the price of your condominium will be roughly 2% of the conversion cost.
To determine the total conversion cost, Tenacity Tenant Conversions creates a mathematical formula adding the purchase price, carrying charges, professional fees, developer costs, legal fees, construction, government licensing, recording fees, and closing costs.
Tenacity Group companion companies can supply the money to purchase your building from your current owner. We can also fund renovation for structural flaws or outdated designs, provide access to licensed real estate agents for private counseling and preparation of contracts, guarantee individual financing to resident buyers who may not otherwise qualify for a mortgage, and even arrange for title and settlement.