LOAN ASSUMPTION FOR CRE.

[Alfred Amponsah]

I have been underwriting many deals in my market and have encountered a deal requiring loan assumption on a 20-unit apartment.

I have many questions to ask, but I want to understand from here before meeting the owner's bank and outgoing owner.

Q1. what are some of the fees besides assumption and processing fees to anticipate?

Q2. For example, if the current loan amount is 3mil, but the owner wants 4mil for the assumption of the loan with low interest, how much money do I bring to closing?

Q3. Has anyone done this and wants to direct me?

Thank you.