Buying a house from a trust

[Joseph Grant]

Hello everyone,

Looking for some advice. My mother died last year and left our summer cottage in a trust consisting of myself and 5 siblings. My siblings don’t want it, so I can buy them out if I want. The house has no heat. Can I get a mortgage on it as is? My plan would be to put heat in it and rent it but would I have to have heat installed first in order for a bank to give me a mortgage on it?

We had 3 CMAs done and the average came in a lot higher than I expected, I’m trying ti figure out if it would make financial sense. I love the property and want to keep it in the family but I can’t afford a vacation home right now so I would need to get a tenant which would require some updates to the house.