Warning: Illegal string offset 'html' in /home3/loanuniv/public_html/forums/cache/skin_cache/cacheid_1/skin_topic.php on line 909

Warning: Cannot modify header information - headers already sent by (output started at /home3/loanuniv/public_html/forums/cache/skin_cache/cacheid_1/skin_topic.php:909) in /home3/loanuniv/public_html/forums/admin/sources/classes/output/formats/html/htmlOutput.php on line 114

Warning: Cannot modify header information - headers already sent by (output started at /home3/loanuniv/public_html/forums/cache/skin_cache/cacheid_1/skin_topic.php:909) in /home3/loanuniv/public_html/forums/admin/sources/classes/output/formats/html/htmlOutput.php on line 127

Warning: Cannot modify header information - headers already sent by (output started at /home3/loanuniv/public_html/forums/cache/skin_cache/cacheid_1/skin_topic.php:909) in /home3/loanuniv/public_html/forums/admin/sources/classes/output/formats/html/htmlOutput.php on line 136

Warning: Cannot modify header information - headers already sent by (output started at /home3/loanuniv/public_html/forums/cache/skin_cache/cacheid_1/skin_topic.php:909) in /home3/loanuniv/public_html/forums/admin/sources/classes/output/formats/html/htmlOutput.php on line 137

Warning: Cannot modify header information - headers already sent by (output started at /home3/loanuniv/public_html/forums/cache/skin_cache/cacheid_1/skin_topic.php:909) in /home3/loanuniv/public_html/forums/admin/sources/classes/output/formats/html/htmlOutput.php on line 141
land acq - LoanUniverse Community

Jump to content


land acq


2 replies to this topic

#1 Guest_Guest_john_*

  • Guests

Posted 23 October 2004 - 10:00 AM

hello i have a land deal that i am in need of funding;purchase of 73 ac of land for development just had property apparised value is 3.5 mil seller needs 2.3 , i need short term bridge until apartment funding is complete which take about 4 to 6 months hud 221(d)(4) need fast closing 30 days max is this possible all doc are done market study phase one and title all just completed

#2 loanuniverse

    Administrator

  • Admin
  • PipPipPipPipPipPipPip
  • 1,251 posts
  • Gender:Male

Posted 23 October 2004 - 01:06 PM

Maybe one of the non-bank lenders here can help, but as a credit person, I get a couple of questions from the information that you posted.

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?

Good luck

#3 moneyde836

    Part-Time Teller

  • Members
  • 7 posts

Posted 23 October 2004 - 06:12 PM

We may have some interest. Email or fax your Executive Summary with more details.

Regards...

Myron Alford





1 user(s) are reading this topic

0 members, 1 guests, 0 anonymous users