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Updated about 5 years ago on . Most recent reply

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Seller financing question

Posted

If I get a home through seller financing can I get the deed free and clear in order to get q HELOC to access the equity to finish the buy?

I.E.

Jon buys a house from Kate using seller financing Kate wants $50,000. Kate's house is 100% paid off free and clear of liens. Jon agrees to give her $10,000 and does seller financing for the remainder $40,000. Can Jon afterwards (while still paying the 40,000) get the deed in his name free and clear of liens and go to a bank and get a Heloc and pay Kate with the HELOC to complete the deal with Kate?

Most Popular Reply

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Derek Dombeck
  • Real Estate Consultant
  • Wittenberg, WI
572
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572
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Derek Dombeck
  • Real Estate Consultant
  • Wittenberg, WI
Replied

@Travis Smith-Armwood

It's going to depend on the lender.

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