How does multiple people being on a deed affect the property being used in a deal?
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  1. #1

    How does multiple people being on a deed affect the property being used in a deal?

    Merchant (Construction business) was added to the deeds of 2 properties recently by the owner. It was done with the original owners' hope the merchant would be able to get funded with his business using the equity from the properties. I can break down the details of the deal as far as the business revenue, equity n values of the properties, and all the other stuff. Just didn't want to waste everyones time if it was an issue the merchant was recently added for this. I don't get into a ton of real estate type deals so I figured I'd ask. Appreciate any feedback

  2. #2
    Senior Member Reputation points: 34509 Jstarr's Avatar
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    It doesn't , everything can be handled at closing.
    Jerry Starr
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  3. #3
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    Quote Originally Posted by JR31024 View Post
    Merchant (Construction business) was added to the deeds of 2 properties recently by the owner. It was done with the original owners' hope the merchant would be able to get funded with his business using the equity from the properties. I can break down the details of the deal as far as the business revenue, equity n values of the properties, and all the other stuff. Just didn't want to waste everyones time if it was an issue the merchant was recently added for this. I don't get into a ton of real estate type deals so I figured I'd ask. Appreciate any feedback
    I can do this for you. Just need a 1003 and credit report for the owners. Give me a call at 215-619-2543 or shoot me the property details to sbuchholz@velocitymortgage.com .
    Scott Buchholz
    Account Executive
    Velocity Mortgage Capital
    215.619.2543 Direct
    sbuchholz@velocitymortgage.com

  4. #4

    Answer:

    Quote Originally Posted by JR31024 View Post
    Merchant (Construction business) was added to the deeds of 2 properties recently by the owner. It was done with the original owners' hope the merchant would be able to get funded with his business using the equity from the properties. I can break down the details of the deal as far as the business revenue, equity n values of the properties, and all the other stuff. Just didn't want to waste everyones time if it was an issue the merchant was recently added for this. I don't get into a ton of real estate type deals so I figured I'd ask. Appreciate any feedback
    Good morning. I would be happy to help you out with this. Here at WBL, we focus on unique & real estate securd transaction such as this. I can be reached at 212-220-0175. Thanks, Robert

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