Posted by John Merchant on June 05, 2004 at 14:21:52:
You’d have to obtain the loan for 4 separate units, so each could be sold separately.
If you just got one loan for the entirety, it could not later be separated easily, and you’d just have to refi when you finished the condo conversion as required by your state’s laws.
turning 4 unit rentals into condos - Posted by Cynthia Brewster
Posted by Cynthia Brewster on June 04, 2004 at 12:27:02:
I have 4 units to purchase. The city has already okayed the units for condos. My question is how would the loan be divided? How would I structure the loan so there would be clear title for each unit?
cynthia
brewbeat@hotmail.com