Updated about 5 years ago on . Most recent reply
Is there a seasoning period to refinance a FSBO home?
Hey BP, I’m meeting with my first highly motivated seller Saturday. I’ve built a good relationship with him and he needs help with back taxes and also solar panels on the property that he cannot afford to make the payments on. I’m trying to come up with different ways I can help him and this one might be an option if I can get him to sell it to me and take over the debt and then refinance into a 30 yr mortgage. Any advice would be greatly appreciated. Thank you in advance.
Back story on the property: The home is owned free and clear. The owner owes an estimated 28,000 in property taxes and 55,000 in solar. The property is 20.0 acres with two homes on the lot that need a ton of repairs but are live-able.