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Updated over 7 years ago,

User Stats

9
Posts
2
Votes
Rob Ross
  • University Place, WA
2
Votes |
9
Posts

Financing for a lake property to buy out other party

Rob Ross
  • University Place, WA
Posted

Hello BP,

I am half owner of a lake property in 
Mason County, Washington. The other owner wants to sell his interest in the property. The property has a 500 sq. ft. garage, septic system, power, but no running water. Water is pumped from the lake to the toilet that's located in an outhouse.

I am wondering where do I find financing to buy-out the other party? What I'm finding out is a traditional fanny mae loan isn't possible because there isn't a house on the property.

Please tell me all of your great ideas. Thanks in advance!

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