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Sourcing And Seasoning Assets. Seasoning of Ownership!
This particular problem will not be relevant to all business borrowers. However, if it is relevant, you should seek out a lender without sourcing and seasoning requirements or limitations. Most banks have strict guidelines for sourcing and seasoning of assets or ownership to qualify for commercial real estate loans. For a purchase, commercial lenders will frequently want documentation about where the down payment is coming from (sourcing). Commercial lenders will also frequently have very specific requirements stipulating that the funds must have been in a specific account for a specific period of time, often 3-6 months or longer (seasoning). Seasoning of ownership is similar to seasoning of funds, except this requirement involves the minimum time someone has owned a commercial property before they can refinance the property.
Ivanhoe Cambridge, Callahan Capital Acquire Manhattan's 85 Broad St. in Latest Office Buy
– costar.com/News
Infamous Three Mile Island nuclear reactor to shut down
– rss.cnn.com
Office Lease Up (May 30) Haverty Furniture Cos. Signs Seven-Year HQ Extension at The Centrum at Glenridge
– costar.com/News
Haverty Furniture Cos. (NYSE: HVT) has agreed to a seven-year extension that will keep the furniture retailer’s longtime corporate headquarters at the Centrum at Glenridge in Atlanta.
The 186,826-square-foot, eight-story office building has housed the corporate offices of Haverty’s since 1999…
United allegedly flew an unsafe plane 23 times
– rss.cnn.com
