TRICKY PURCHASE-NEED TO BORROW SOME CREATIVITY!

[Sherri Southwell]

We are looking at a property for our primary residence. It's a one owner estate house has been on the market for over a year now. The heirs are paying over $3K/year in taxes. The house is old and needs updating (no problem) but the real problem is the structure. For some reason, the owners opted to add on to an existing MH thus creating a nightmare for FHA financing (two other deals have fallen through to date). The MH portion consists of one bedroom and one bathroom from what we can see. I have asked our agent to speak with the seller's agent about the family deconstructing and removing said MH portion to free up the financing (if that's even possible). I'm stuck-any suggestions from my more seasoned BP counterparts? Much appreciated!

[Jared Rogers]

@Sherri Southwell I agree with @Bill Gulley. Purchase the property subject to (if the property has an existing mortgage) or with owner financing (if no existing mortgage). Therefore you get title and refinance when you solve the problems.