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Charles A.
Pro Member
  • Rental Property Investor
  • Jacksonville, FL
282
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205
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Refinance penalty

Charles A.
Pro Member
  • Rental Property Investor
  • Jacksonville, FL
Posted Nov 16 2015, 06:18

We are about to close on an apartment complex purchase with a local bank.

The only sore point for me in the deal is a 1% penalty inserted by lender if property is refinanced with another bank anytime in the future but no penalty if refinanced with them or sold outright.

Is this pretty standard or am I right to continue pushing for the clause to be removed ?

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