How to Purchase property that is currently in a trust

[Shawn Prushinski]

Hello everyone! I have been looking at a small campground that has fantastic value add potential for lake front cabins plus a 6br house and a small 1bed 1bath cottage already in place. The main question I have is how hard is it to purchase a property out of a trust? I have never Delt with a trust before. Can I obtain a loan to purchase the property? 

[Matthew Morrow]

Quote from @Shawn Prushinski:

Hello everyone! I have been looking at a small campground that has fantastic value add potential for lake front cabins plus a 6br house and a small 1bed 1bath cottage already in place. The main question I have is how hard is it to purchase a property out of a trust? I have never Delt with a trust before. Can I obtain a loan to purchase the property? 

 Howdy from Allentown-

Purchasing property out of a trust isn't inherently more difficult than a standard transaction, but there are additional steps:

Verify Status- Ensure the trust is valid and the trustee has the authority to sell. You'll typically request a copy of the trust or a certification of trust.

Financing- Yes, you can obtain a loan to purchase a property held in a trust. Lenders are primarily concerned with the property's value, your creditworthiness, and the ability to place a lien on the property, rather than the ownership structure.

Due Diligence- As always, conduct thorough due diligence. Especially with campgrounds and lakefront properties, check zoning, environmental issues, and any land use restrictions.

I suggest always working with a real estate attorney familiar with trusts to guide you through the process. It can get complicated so get someone with experience.
if you need anything in and around the Lehigh Valley, give me a shout.
Good luck!