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Updated almost 8 years ago on .
Easement and financing issue
Posted in the wrong forum earlier.
Found a 4 unit that needs work and would be great money maker. Got it under contract as a cash purchase. However the title company mentioned we may have issues. Below is what they said:
"There is a MSD easement and structure that runs directly under the building. The easement and sewer structure predate the construction of the building, but it was somehow erected. In each of the prior deals, the purchaser was utilizing bank financing, and the lenders refused to finance the transaction because of the existence of the easement and sewer structure."
Now even though I am buying cash, I would like to cash out after rehab. Any one had any similar experience and were able to get financing?