18 Units-Multifamily Property.
Another Successfully Funded Loan
1031 exchange with a short deadline. Loan had to close in 45 days or exchange would fail.
Short closing time was mitigated by completing all of the borrower’s paperwork in a timely manner with an appraisal that was expedited. At the same time, borrower wanted a non-recourse loan.
Loan was sized and placed with the only lender that could provide a quick turn time on appraisal and a non-recourse loan (non-agency)was successfully provided to borrower. Loan request was expedited and the 1031 exchange closed successfully.
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