Parking Off of MLS

[flamesrule_kipper34]

Hey all,

Just wondering I recently purchased a condo unit and I just saw on MLS there is a stall for sale available a my building (it's a condo where you have to be a condo owner to park within its parkade).

I'm looking for an additional stall but I'm curious how parking items on MLS work. Do I need to real estate agent to work thru the details of making an offer and towards purchasing this parking as if it were other housing since they seller is doing this thru MLS and a real estate agent?

For financing would the seller require the lump sum payment for the parking stall or could I set up for a loan similar as a mortgage to purchase this parking stall.

Any advice would be appreciated, thanks.

[Deegee]

A mortgage loan with an amortization of 25 years through "traditional lenders" on a parking stall might be hard to obtain. I could see us (a Credit Union) still using mortgage security over the stall simply because the purpose of the loan would be the stall and the transaction would go through a lawyer, but I don't think the rate would be close to residential mortgage rates.