A purchase transaction whereby we were referred to the investor from the selling agent. Upon receipt of the assignment it was also nice to discover that the listing Brokerage was a firm that we also closed together successfully past transactions.
The actual assignment was actually very straight forward and represented nothing out of the ordinary for us at ALB. The biggest challenge was that our borrower was not a U.S resident and he was in Mexico and the communication back and forth and the gathering of required documentation was a bit challenging.
ALB structured a purchase money loan with great terms and managed the process for the borrower from cradle to grave. The loan closed successfully and everyone was happy and we hope to do more business with all parties involved in the transaction.