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How to finance and purchase a share

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Guest	Posted: Wed Dec 09, 2009 9:31 am    Post subject: How to finance and purchase a share Like 0 Dislike 0 A second home is co owned by two sisters. One would like to sell her share to 3 family members. The agreed upon price has been set at 300K. Value is $600+. What exacly are the new details and waiting period to put the new parties on the deed to use the equity in the home to finance the 300K? Thanks,
smithsussane Joined: 18 Sep 2008 Posts: 10038 Location: Alaska 920.62 Dollars($)	Posted: Wed Dec 09, 2009 10:22 pm    Post subject: Like 0 Dislike 0 Hi Guest! Welcome to forums! There can be a six months waiting period in order to refinance the loan. However, I would suggest you to contact a lender and check out his opinion in this regard. Sussane
GAR Guest	Posted: Thu Dec 10, 2009 7:27 am    Post subject: Is this correct Like 0 Dislike 0 Thanks Sussane. To clarify there is no loan on the home currently. Looking to take one out after on deed to finance the purchase. Thanks!
adonis Joined: 22 Oct 2005 Posts: 10258 Location: ALASKA 1044.81 Dollars($)	Posted: Thu Dec 10, 2009 9:50 pm    Post subject: Like 0 Dislike 0 Hi GAR, If there is no loan on the property, then they may take out the loan immediately after purchasing the property from the sister. _________________ Procrastination is the enemy of your financial success

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