TIC group loans are valued like an apartment building. Likely the appraiser was using that not TIC properties with fractional loans. Frankly I am not surprised. Have considered using Sterling or Bank of Marin or NCB for fractional financing? I deal with Walkup Clark and also with Anthony at Mr. Appraisal quite a bit for TICS. you can request a review of the loan or just trash it and go elsewhere for the loan.
I think that Mickey Cogliandro at Guaranteed Rate or John Ybarra or Henry Jeanes at Sterling could help.
hope that this helps you. Get it done soon. Rates are up and the whole TIC market is in a turmoil over the new legislation.
Hi Bernie-I just responded to your other question. I have some mortgage referrals I can pass along to you to discuss your specific situation. Feel free to email me. RichBennett@ZephyrSF.com.
Rich Bennett, Realtor
Zephyr Real Estate