Updated about 9 years ago on . Most recent reply
Buying a house with 1 board up on the street in Baltimore
Hello,
My partner and I are looking very closely at purchasing a house in a pretty nice neighborhood, at great price.
We want to use the property as a rental and refinance out of our Private money loan. The only issue is there is 1 boarded up house about 6 doors down. I can't seem to track down the owner however.
Question is, will we be able to refinance (using a commercial loan) if there is a board up on the street? This is in Baltimore City.
Most Popular Reply
I have gotten financing for Baltimore rowhouses that have boardups nearby - the stipulation I got from the lenders was there cant be an adjacent boardup, but further away on the same block was ok. Same with my insurance carrier (Erie).
jeff