Sharetini: Frequently Asked Questions
Frequently Asked Questions
EDIT: You can do this from the menu or from your profile.
Don’t worry if some of the information you provide changes, you can edit your own profile at any time you wish.
DELETE: You can do this from Settings in the menu or in your profile under Manage Account. Please note Sharetini does not issue any refunds for deleting your account.
Where you have not accessed your profile for a continuous 12-month period, since your last activity, we reserve the right to remove your profile from our database. This will ensure that we continue to provide up to date and relevant matches for all our members.
Your login password can be reset in Account Settings. You can access your Account Settings from the menu or from your profile.
Your security and privacy are vital to us, and all personal information is 256-bit encrypted and secured using Amazons Advanced Encryption Standard. We do not, and will not, share, sell, or exchange any profile information with any other organizations. We also have firewalls set up across all of our servers and our systems are monitored 24/7 for any compromises.
In order to ensure greater trust and transparency with our members, Sharetini recommends you verify your account with your Facebook profile and your Phone number.
Please note this should never be taken as a guarantee regarding a users real identity. Furthermore Sharetini advises its members to never enter into a co-ownership purchase agreement without a real estate agent and lawyer experienced in TIC/ Tenancy in common.
How Sharetini Works
We want to empower you to be a homeowner, and the peace of mind, joy, and financial flexibility that comes with that achievement. If you don’t already have someone you’d like to live with, Sharetini can connect you with people like yourself so your living situation meets your needs. This arrangement is called a tenancy in common (TIC), which allows two or more people ownership interests in a property. We encourage you to contact our professional partners to help you understand and prepare for your home-buying experience, and connect with other Sharetini members to find someone who has the same home vision as you.
Sharetini connects prospective buyers like you who may otherwise not be able to afford such properties on their own with professional partners who can help you purchase available properties in popular urban markets, such as San Francisco and Toronto.
Sharetini is currently focused solely on two key urban locations where many young working professionals are getting priced out of the market: SAN FRANCISCO and TORONTO. As we grow to serve our clients successfully in these two areas before expanding to other urban markets.
Preparing to Buy
A mortgage pre-approval is a letter from a lender indicating how much of a loan you can qualify for, issued after the lender has evaluated your financial history — including pulling your credit.
With a preapproval letter, you can find a home you can afford by shopping within your means and lock in your interest rate today.
Contact one of our trusted mortgage brokers in our partners section to get pre-approved.
It’s important you take some actions yourself:
- Understand your credit rating, and how it impacts your ability to get a loan. You can request your credit report once each year, for free, from the three major credit agencies: Experian, Equifax, and TransUnion.
- Do the right things to help improve your credit rating--what you do now will save you considerable money later. Higher credit scores get better loan rates. CreditKarma.com is free and provides helpful guidance around this.
- Prepare a budget and change your spending habits to increase your savings. That’s an important and fairly easy goal to achieve.
- Knowing what you need in your living environment what’s a must-have and, what’s nice-to-have”will help save you time and energy so you’re not looking at every property that comes available in your budget.
Visit socialownership.org for more information and, when you’re ready, reach out directly to our approved partners to help answer your questions. We and they are here to support you throughout your home-buying journey.
While sharing the purchase of a home is not a new or complicated thing, it still requires specialized knowledge and setup for Tenants in Common structured property purchases.
This begins with:
Real estate agent: with experience with all the applicable laws and processes for TIC/ Tenancy in Common.
Real estate Lawyer: Experienced with the legal process and documents that conform with all the applicable laws and requirements for TIC/ Tenancy in Common.
Mortgage Brokers: Who have relationships with lenders who offer loans for TIC/ Tenancy in Common. Please note many lenders will not offer loans for TICs so it is important to work with a broker who has experience.
Insurance Brokers: Having insurance that is tailored for TICs is critical to secure a loan and protect your investment.
Many people with poor credit have challenges when trying to get a home loan, but there are tactics to improve credit ratings. It usually takes time, though. Sharetini doesn’t exclude anyone based on their credit rating:our goal is to help educate people with information and resources to help them get the home they deserve.
It’s good to learn all you can about the real estate market that you’re intending to buy in, and it’s important that you take actions to improve your credit rating if it’s not where you’d like it to be.
Visit socialownership.orgfor more helpful information, and request that each of the credit reporting firms send you your credit report. It’s free to make this request once a year.
We’re in the early stages of a real estate evolution. Nearly two generations of Americans doubt they can own their own home, and with increasing competition for limited space in the major urban centers of North America, things can seem bleak. But the option of sharing the financial responsibility of home ownership can help many people who otherwise have been priced out of the urban markets where they’d really like to live.
Sharetini, and home co-ownership, are simply a new application of what you’re already familiar with: the shared economy. We’ve become comfortable with sharing car rides (Lyft, Uber), vacation homes and apartments (AirBnB, VRBO), and other shared experiences and Sharetini is part of a shared economy approach to access and own, desirable urban real estate.