Updated over 5 years ago on . Most recent reply
I've got a hard money deal lined up
I've got an investor that would like to take a 125K hard money loan from me. This is my first time doing a hard money loan. Is there a check list or something that people commonly use before giving a loan to be sure that they are protected from common issues? I'm excited to do the deal but I have fear of the unknown. Any help would be great. Thanks!
Most Popular Reply
You should have note, mortgage, appraisal or CMA, scope of work, personal guarantee, escrow agreement if they are taking construction draws, lenders title insurance, and be listed as the lender on their property insurance policy.