Will bank finance my Triplex ? -- Survey problems

[Jordan Higley]

Hello BP world.

I'm working on purchasing my second investment property and have decided to go multi-family. I have the property under contract and recently received the survey back. There is one part of the structure that crosses the property line by about 2 or 3 inches. It's the overhang of a roof which is attached to a storage closet which attaches to the house. *Nothing physically touches the other property, it's just this overhang above the ground* Would a bank finance this or do I need to fix roof before purchasing?

This is an owner financing opportunity, therefore nothing technically needs to be done right now. But I have a balloon payment for 5 years, once that timeline is up, I'm worried I won't be able to re-fi out of it due to this problem.

Any thoughts? The house is in Texas so I'm pretty sure a survey is required by any bank that is willing to finance.

[Jesse T.]

If you don't have an official contract, I would add a contingency for the owner to resolve this issue.

How much would removing the roof and reducing the size cost?  Reducing the price by this amount maybe another option.

You or the seller should offer something in exchange for an easment.  1/2 the cost of modifying the roof seems a reasonable option to me.