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Updated almost 9 years ago,

User Stats

26
Posts
3
Votes
Shane X.
  • Real Estate Investor
  • LI, NY
3
Votes |
26
Posts

Bank approved and offer accepted,BUT.

Shane X.
  • Real Estate Investor
  • LI, NY
Posted

Hello everyone!

I've been a long-time lurker on these forums and haven't been on here for a long time, it's great to be back!

So, I'm in Europe visiting family and the market is booming in my home land. I got approved by local bank here for 70% of the purchase price, so I would need to come up with the 30%.

I also put an offer on a property and got accepted. The property was €260,000 and offered €230,000.

My simple question is this, I don't want to use any of my own money, over here cash or loan, it doesn't matter. 

So, what would be the best way of going about on getting a loan for amount of €70,000

I come back to the states in a week, and was thinking of getting that portion from my local bank, which comes to about $78,000.

Should I try to go for a line of credit or something else? I don't have a mortgage in the states, and have a very good credit report/score.

Any advice would be great!

Thanks!

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