Can a VTB scenario work for an estate sale?

Buying & Selling Real Estate
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Can a VTB scenario work for an estate sale?

Ralph Noack
Rental Property Investor · Lynden, Ontario · Member since 2017 · 90 posts · 19 votes

I found a nice deal in our market (Brantford, Ontario) and I'm looking at other options outside of traditional financing, esp. for the downpayment. I know a lot of people have used the VTB. Just looking for input on whether it could work for an estate sale or not.

Thanks.

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  • Steve Morris
    Real Estate Broker · Portland, OR · Member since 2019 · 4k+ posts · 2k+ votes
    5y

    OK< I'll bite - WTH VTB?

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  • Ralph Noack
    OP
    Rental Property Investor · Lynden, Ontario · Member since 2017 · 90 posts · 19 votes
    5y
    @Steve Morris-  A Vendor Take Back. The Seller (the vendor) holds part or all of the mortgage for you. In our case its an estate sale. So the heir(s) are selling the house.

    I'm trying to see if anyone has had experience in this situation.

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  • Melanie Dupuis
    Investor · North Bay, Ontario · Member since 2019 · 221 posts · 99 votes
    5y

    @Ralph Noack Absolutely you can! The only thing that is different is that the estate has to say yes to holding financing for you.

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