The short answer is yes. The long answer is that its no easy task and you will have many hoops to jump through.
How do I get a loan from a lender loan on a former grow-op?
With CIBC, the list is long of things that have to be completed before we can do this type of transaction.
It all starts with re-meditation.
Has it been fully re-mediated? Do you have all the certificates to prove this?
How Does Buying a former Grow Op affect Value?
Since nobody is financing them in the mortgage broker channel, that means there is only one lender in Alberta and after that the only way to purchase then is with cash. Why would you purchase a property where you will have a really hard time selling? The only thing I can think of is they want to rent it out forever. OR it will become there forever home, and they will only rent it out.
Should I have other concerns when buying a former grow-op?
If criminal activity once took place there it is on the radar of other criminals. You may be more susceptible to home invasions and
break & enters.
Still want to buy a former grow-op?
Give me a call or text at 403-807-8779 and I will put you in touch with a great realtor who has experience in these types of properties, and of course I will ensure you get pre-approved and meet all of the banks guidelines before you go shopping.
