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Updated over 1 year ago on . Most recent reply

Phil Salazar's profile image
Phil Salazar's profile image
Phil Salazar
  • Rental Property Investor
  • from Conroe, Texas
  • Member since Jun 14, 2015
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15
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1
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Phil Salazar's profile image
Phil Salazar's profile image
Phil Salazar
  • Rental Property Investor
  • from Conroe, Texas
  • Member since Jun 14, 2015
Connect
Phil Salazar
  • Rental Property Investor
  • Conroe, TX
1
Votes |
15
Posts
Buying & Selling Real Estate

Selling a portion of my 3 acres

Phil Salazar
  • Rental Property Investor
  • Conroe, TX
Posted

I have a bank loan and own 3 acres which is my principal residence and a couple of out buildings.

I wish to sell using owner financing (I'm thinking Wrap around mortgage)  half of my property to a family member.  Question:   Do I need to subdivide and get a new property line showing that there are 2 -  1.5 acre lots in order to sell?   Or can I sell using seller finance to my family member without subdividing?

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