ASSIGNMENT:

New clients were referred to us by the selling Agent for this purchase transaction. Buyers/borrowers were in a 1031 exchange.

CHALLENGE:

The only real hurdle we noticed on this transaction was that the escrow period written in the contract was unrealistic expecting a 30 day close of escrow.

SOLUTION:

The ALB team immediately informed both listing and selling agents of the need to extend the escrow and quickly worked with the borrowers getting them packaged, expedited appraisals and closed the transaction in 46 days with everyone moving forward happily. As it turned out the borrowers already had us working on a SBA deal for them.