All Forum Posts by: Alex F.

I have the prequal letter, is there an aggregate source to get a bunch of quotes for the second mortgage?

Got prequalified for a sba504 and signed a purchase agreement.  Now I need bank to cover the 50%.   where do I look for the best rates and when applying how do they know if it’s tied to a 504

what do I put for an expiration date of the offer?

About to submit a letter of intent/offer. What should the expiration date be if it is an REO that is represented by a broker?

Can you specify what you mean by aggressive diligence (more days) and financing contingency?

Thank you, loopnet says it was listed on 9/24, do I go by that or perhaps it’s been on the market longer.  If I go in at 10% offer and they don’t like it, do they typically respond or ignore if they consider something lowball?

Thanks! Any advice then on submitting an offer, can more aggressive offers be submitted? 10-20% perhaps?

Buying process for 1MM commercial building without a buyer's agent using a 504a lender. I prequalified letter.  So now:

1. Contact seller's agent

2. View Property and due diligence (research CAMS, etc)

3. Submit offer and negotiate via email

4.  Sign offer, send earnest money to closing attorney (do I use the 504a attorney-since they have a fee for it)

5. Inspection period and do inspection

6. If everything checks out, close?

REO Sale per listing, bank owned, it is a commercial standalone building for 1M. What does this REO change in terms of negotiations, etc?

nobody?