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Updated over 8 years ago,

User Stats

85
Posts
18
Votes
Aryelle Collins
  • Tampa, FL
18
Votes |
85
Posts

Can I use equity for a down payment?

Aryelle Collins
  • Tampa, FL
Posted

I'm looking at a duplex in St. Petersburg being sold for 85k (accepting all offers) ARV 120k needing about 7500 in repairs. The seller says there is a high amount of equity for this property. Can I use some of the equity as a down payment and can you explain how that works? Also what kind of terms would make this deal work if I were to use the equity?

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