ASSIGNMENT:

1031 exchange with a short deadline. Loan had to close in 45 days or exchange would fail.

CHALLENGE:

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.

SOLUTION:

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.