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Updated over 1 year ago on . Most recent reply

User Stats

24
Posts
5
Votes
Christian Sidaros
  • Investor
  • Raleigh, NC
5
Votes |
24
Posts

Financing advise for house with encroachment

Christian Sidaros
  • Investor
  • Raleigh, NC
Posted

Hi everyone! Looking to get some advice here. There is a property I am interested in however it seems the house itself is encroaching on the neighbor by 2.39 ft. Apparently the house was built before the zoning department set the property lines so they said it is grandfathered in and there are no issues with it however no lender will touch it because of that encroachment. I suppose they are concerned about a lawsuit in the future from the neighbor. Other than the drastic move of moving the house do I have any other options here to make this work? Is there anything I can do that would make the typical lender comfortable with lending on it? Obviously I would also like to be able to sell it in the future so if there is anything like maybe an easement of some kind that would make a lender comfortable lending on it as well as making it easy for a future buyer of the property when I decide to sell it to get financing. House is in North Carolina if that helps. Thanks again for your help!

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