Will bank finance my Triplex ? -- Survey problems
Hello BP world.
I'm working on purchasing my second investment property and have decided to go multi-family. I have the property under contract and recently received the survey back. There is one part of the structure that crosses the property line by about 2 or 3 inches. It's the overhang of a roof which is attached to a storage closet which attaches to the house. *Nothing physically touches the other property, it's just this overhang above the ground* Would a bank finance this or do I need to fix roof before purchasing?
This is an owner financing opportunity, therefore nothing technically needs to be done right now. But I have a balloon payment for 5 years, once that timeline is up, I'm worried I won't be able to re-fi out of it due to this problem.
Any thoughts? The house is in Texas so I'm pretty sure a survey is required by any bank that is willing to finance.