“Maybe A Little Premature?”

“Maybe A Little Premature?”

 

 

 

 

 

 

Hello Joe, 

My husband and I purchased our home in Florida, you handled the mortgage. 

I’m from CT and own 1/4 of the home I grew up in.  My mother is 90 in good health and living in the multi family home currently, the house is paid in full. 

My question is when the time comes would I be able to get a loan to buy my siblings out?  We just purchased our home in Florida in 2016.  I am 57 years old and would love to buy the house for investment. 

I’m sure there is much more that you would want to know but I do look forward to hearing back from you.

I would like to be prepared however that may be financially to be able to purchase the house and would like some of your advice.

 

I sent a list of 24 questions, most of the answers came back with an answer of “not sure”. The most important question being; Do any of the other siblings have an interest in acquiring the property once your mom has passed?

 

After a few days the answer came back that two of the other siblings want to purchase the property. I let her know that she will need to come to a meeting of the minds with the other family members, but once there is an agreement I would be delighted to do a mortgage on the property.

 

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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

Comment balloon 5 commentsJoe Petrowsky • March 12 2018 02:33PM

Comments

That's such a tricky thing - figuring out what to do with a parent's home when there are multiple potential new owners. I'm sure they will figure something out!

Posted by Kat Palmiotti, The House Kat (Grand Lux Realty, 914-419-0270, kat@thehousekat.com) about 1 month ago

Good morning Joe. Will they agree or will they squabble? Time will tell! Enjoy your day.

Posted by Wayne Martin, Real Estate Broker (Wayne M Martin) about 1 month ago

Good morning Joe, you certainly are the right person to ask. Hope they will figure out what works for everyone involved.

Posted by Beth Atalay, Cam Realty of Clermont FL (Cam Realty and Property Management) about 1 month ago

Good questions you asked, Joe. You helped already by getting their thought process going.

Posted by Lottie Kendall, Serving San Mateo County and San Francisco (Today | Sotheby's International Realty) about 1 month ago

Hi Joe- it's a good thing that they called you. You were thorough in asking a lot of questions, and I think that's were some people make a mistake.

Posted by Kathy Streib, Home Stager - Palm Beach County,FL -561-914-6224 (Room Service Home Staging) about 1 month ago

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