For Hard Money Lenders- Disclosure Language
The following is a verification for the person borrowing Hard Money- must be investment property- right??? So here is an example of language:
12. This Loan is for Investment Property – The property is not owner occupied and is purchased or owned as an investment to be held or rented. The borrower hereby confirms that he/she is a sophisticated investor, that the purpose of this loan is business purposes, and that the borrower has had time to shop for other loans, has received the costs of this loan several days ago and that this is investment property being purchased or refinanced by a business entity for a business purpose. The borrower hereby confirms that this loan is being procured with the sole intent TO PROVIDE INVESTMENT INCOME. Initial__________
What are you using?
Caveat- (This is not a request for legal advice- just a dialogue- smile)