Newsflash: Question about encroachments and loan viability

I recently bought a medium sized lot in a city. The neighbor built across the lot line in several spots (1-6′), but I knew that before I purchased. We can redo the lot lines, but in this instance, it would mean being able to build a single family vs a 4 family. Question is: would I have problems getting a loan in the future on the property with an existing encroachment? I am willing to write a letter of permission for them, but I am unsure of implications. Ideally I would build a single family for myself and 3 apartments in the rear and keep it indefinitely, but I also think about the ability to sell in the future. Thanks for your insight.



Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s