Posted 23 October 2004 - 10:00 AM
Posted 23 October 2004 - 01:06 PM
1- If land was appraised at $3,500M, how did you get to buy it at $2,300M?
2- Do you have $1,150M so that the lender can come in at 50% of lower of appraised or purchased value?
3- Some “developed” land can support higher loan-to-values, but the term “developed” is reserved for that land which is ready to build. Is this land ready to build?
Posted 23 October 2004 - 06:12 PM
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