I am in the process of buying a half duplex and the owner of the other half has reached out to me about selling. Is there any way that I can roll these two purchases into one so I only have one appraisal/inspection/closing cost? My lender and realtor agent have not seen a situation where a duplex that has two separate owners both sell at the same time to a single buyer and are digging to find information as well. Just curious if any of you could give us some pointers in the right direction. THANKS!
To make matters more complicated I am 2 weeks into the first deal. They are currently working on resolving the issues that came up in the inspection so its a time crunch for sure!
Rental Property Investor · Nashville, TN · Member since 2017 · 108 posts · 66 votes
7y
Have you chosen a title company for closing? Check with them, as they are the most experienced with closings.
I'm not going to speculate on if it's possible or not, but it seems with the right lender and title company, it seems possible. I'm interested to see what comes of it. Good luck
Rental Property Investor · Nashville, TN · Member since 2017 · 108 posts · 66 votes
7y
Have you chosen a title company for closing? Check with them, as they are the most experienced with closings.
I'm not going to speculate on if it's possible or not, but it seems with the right lender and title company, it seems possible. I'm interested to see what comes of it. Good luck!
@Wayne Brooks Thats fair, I hadnt thought of it like that because it looks like I just want to buy one structure. But it is two separate properties owned by two separate people so it doesnt matter how close they are to one another.
Well to post a follow up, it doesnt seem like its going to work out. I chatted with a couple of attorneys and they all give the green light but the banks are worried about going forward because I'm trying to use FHA and its a little too grey for their preferences.