Would you sign this private lending agreement?
Hi there,
I am getting ready to purchase a multifamily property in FL. The listing agent is arranging the financing through a private lender so it's a fast closing. I've never gone through the private lending process before and the contract feels very burdensome.
Could I ask one of my fellow BP members to take a look at the agreement and let me know if there's anything weird or that you wouldn't be comfortable with signing? I'm not asking for a legal opinion, but rather somebody who's been through the process before and their thoughts (and knows what to expect). I'm not sure if all agreements are like this because it's my first time going through private lending.
I need to make an offer ASAP and no lawyer can look at it in time for me to get an offer in before the two other buyers nipping at my heels.
If you are willing to take a quick look I'll send you the agreement via PM.
Thanks!
Robert.