Quick question for experienced commercial investors
Hello everyone, I hope all is well.
Ok so I'm in the process of purchasing a commercial apartment building with over $200K NOI and the seller has agreed to allow me to use the property to refinance it to buy it from him. A local title company in my area told me that the seller can transfer the deed to me for a temporary period for me to complete this transaction. So my question is, is this process really feasible and what are the benefits of doing it this way as opposed to new purchase financing? How would the financing bank view this?