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Updated 11 months ago,
Encroachment of property/Easement
Hey! currently looking to close on a property, and the structure of the property is encroaching on the neighbors lot by 6.3ft. We've contacted the neighbor and he's agreed to draw up an easement to resolve the issue. The lender we have is saying it's impossible to lend on the home if a piece of the structure itself encroaches on the neighbors lot, even if there is an easement in place.
I was thinking it might just be a case-by-case basis with lenders and easements. If there's an easement in place I don't see why at least some lenders would lend on this. Anybody have experience with this or any insight?