what does it mean when a property says it is not financeable?

Asked by Timothy Foley, 02909 Mon Nov 30, 2009

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bwabreshe, Home Buyer, Warwick, RI
Sat Mar 7, 2015
assume that in one company if their is comp line interst of leading the opration they may be decline of the profitable do you agree to thiss statement? how? justify your issue by giving appropierte
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Susan Costa, , Westport, MA
Tue Dec 1, 2009
Tim

Chris is right - the only other time I found that the bank will not finance is if their is high debt on the property, such as property liens due to non payment of taxes or utilities as well as mechanic liens. If you purchase a property in this situation, you will also inherit the debt.

Be very careful with this one! If I can help, give me a call.

Susan
AMS Real Estate
774-526-2457
774-264-9117
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Christopher…, Agent, Providence, RI
Mon Nov 30, 2009
Hi Tim,

It usually means that the house is in such disrepair, that you are not able to get conventional financing for the property. Even most rehab programs have limits as to how much they are willing to lend.

It could also mean that the owner is not offering any kind of owner financing, but that would be rare to post. Most times it can be assumed that the seller will not finance it, and only noted if they actually are.

Hope that helps.

Happy Hunting,
Chris
Web Reference:  http://www.cjcsellshomes.com
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