Spousal Buyout
Certain things occasionally come to an end. This can occasionally imply that a couple who owns a home together decides to part ways. No one should feel confined in their home, whether it be a married couple going through a divorce or siblings who are eager to start something new. We provide a spousal buyout program as a result.
What Is It?
Despite the name of the program, any two persons who jointly own a home are eligible. Sometimes, this involves a group of friends or siblings who bought a house jointly. When one partner wants to buy the other out but there isn’t enough equity to refinance, this program is designed for those situations.
How Does It Work?
We can create a new mortgage for the partner who wants to remain the owner and kick the other partner out of the partnership rather than making them sell their house. To pay the other partner the equity they are owed, we can give up to 95% of the home’s worth. The partner taking over the residence must only meet their own qualifying requirements.
Honouring Your Needs
We will be there for you every step of the way to make this process go as smoothly as possible. A separation agreement, an offer to buy, and then a mortgage application are all required by the program. In addition to these records, a real estate appraisal is needed. This is due to the fact that our spousal buyout scheme functions much like a private sale.
Our program is designed to make sure that divorcing couples never feel as though they must give up their house or feel confined inside of it. Contact us right away if you have any questions about how our spousal buyout program can help you. Your privacy and comfort are our top priorities at every stage of the procedure, from consultation to completion.
Send me a Message
I will promptly reach out to initiate the process of creating your secure personal mortgage profile and expediting your mortgage pre-approval.