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Nov 20, 2020
1:31:19pm
Gibbcoug Contributor
Those would likely need to be refinanced by the commercial side of the bank.
I would think they would be willing based on LTV and income production. They would likely need some sort of cash savings to cover if one of the tenants leaves.

The other option to think about is that since her husband passed away - if the building is in their names (or LLC), she gets a step-up in basis to the FMV of the building and they could be sold with no capital gains. I am not a tax expert though
Gibbcoug
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Gibbcoug
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