Financing former grow–op properties can be a challenge for lenders in spite of sufficient remediation of the property, the removal of mould, repair to the electrical system, etc. The issue beyond any potential physical problems with the property are concerns over the criminal element that may continue to be linked with the property.
As remote the possibility of a potential problem may be, lenders worry about potential damage to the property as a result of a backlash against the previous inhabitants. Seems like stuff best left for prime time television but since the lenders call the shots, who am I to argue?
Fortunately we have lenders who will lend against former grow-ops.
We welcome your comments.