Posted on: 09th Dec, 2009 08:31 am
A second home is co owned by two sisters. One would like to sell her share to 3 family members. The agreed upon price has been set at 300K. Value is $600+. What exacly are the new details and waiting period to put the new parties on the deed to use the equity in the home to finance the 300K?
Thanks,
Thanks,
hi guest!
welcome to forums!
there can be a six months waiting period in order to refinance the loan. however, i would suggest you to contact a lender and check out his opinion in this regard.
sussane
welcome to forums!
there can be a six months waiting period in order to refinance the loan. however, i would suggest you to contact a lender and check out his opinion in this regard.
sussane
Thanks Sussane.
To clarify there is no loan on the home currently. Looking to take one out after on deed to finance the purchase. Thanks!
To clarify there is no loan on the home currently. Looking to take one out after on deed to finance the purchase. Thanks!
Hi GAR,
If there is no loan on the property, then they may take out the loan immediately after purchasing the property from the sister.
If there is no loan on the property, then they may take out the loan immediately after purchasing the property from the sister.