Posted on: 03rd May, 2010 09:24 am
My mother owns her house free and clear. The house was built in 1911 and needs new pluming, complete rewire, and renovations of the kitchen and bathroom. She would like to quick deed the house over to me. My intention is to use the equity in the home to finance the renovations. Will the quick claim deed be sufficient for the bank to consider financing or will I need more than that? Thank you
hi tjpeeb!
welcome to forums!
as the property is free and clear, your mother can use a warranty deed in order to transfer the property to you. once the property is transferred in your name, you would be able to get a home equity loan for the renovations.
feel free to ask if you've further queries.
sussane
welcome to forums!
as the property is free and clear, your mother can use a warranty deed in order to transfer the property to you. once the property is transferred in your name, you would be able to get a home equity loan for the renovations.
feel free to ask if you've further queries.
sussane