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Legal Ease
Legal Ease, Lawyer
Category: Canada Law
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Experience:  Lawyer
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Is a note on title from a municipality regarding work

Customer Question

Is a note on title from a municipality regarding work performed on a property outbuilding (not the house) concerning enough for lenders to not approve a mortgage based on this discovery alone given no other issues or concerns?
Submitted: 3 months ago.
Category: Canada Law
Expert:  Legal Ease replied 3 months ago.

Hello! My name is***** you for your question. I'm reviewing it now, and will post back again shortly.

Expert:  Legal Ease replied 3 months ago.

I am sorry to hear about the situation.

It is possible that the lender will not want to provide a mortgage because often the case is in the lender wants a clear title. They do not want to put themselves at risk in any way.

But ift hey can be convinced that the house is not at risk, that there is sufficient insurance and that this cannot impede their collecting their money if you go into default there should not be a concern.

Does that help as a starting point?

Please feel free to post back with any follow-up questions you may have. If you don't have any then I hope I have earned a 5 star rating but if you don't feel that I have please don't hesitate to reply back and let me know what more I can do to assist you. Finally, please know that even after you rate me I will be here for you and you can ask follow-up questions if you think of them later on at no further charge of course.

Customer: replied 3 months ago.
What is the likelihood or percentage in your experience that lenders have overlooked a note because it has been on an outbuilding and not on the home itself.
Expert:  Legal Ease replied 3 months ago.

Will not be responsible for me to give her percentage but I was say that you have a very good chance at getting the mortgage.

Is there some reason that you cannot ask them?

Expert:  Legal Ease replied 3 months ago.

Is there anything more I can help you with at this point in time?

Customer: replied 3 months ago.
actually....what is expected once a person requests and acquires a building permit?
Once acquired what are the expectations...the steps after that?
Expert:  Legal Ease replied 3 months ago.

That is an entirely separate question and I honestly don't know the answer to it.

I only answered your post because I knew the answer to your original question.

You will have to start a new post for this new question.

Thanks

Expert:  Legal Ease replied 3 months ago.

Is there anything more I can help you with at this point in time?

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