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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.
5 signs you retired too early
– rss.cnn.com
Forest City Considering Potential M&A Options, Other Alternatives for Boosting Asset Value
– costar.com/News
This morning, the REIT announced that its board commenced a process to conduct areview of strategic options together with management and in consultation with financial and legal advisors to include such options as an accelerated and enhanced operating…
Will latest U.N. sanctions make Kim Jong Un sweat?
– rss.cnn.com
Florida's airports blink back to life after Irma
– rss.cnn.com
Office Lease Up (September 11) PTC Sets Sail for Boston's Seaport District with 250,000-SF HQ Lease
– costar.com/News
The computer software and services company will shift more than 1,000 employees from its Needham, MA offices to the top half of 121 Seaport, a 421,320-square-foot, 17-story, elliptical-shaped tower that broke ground in mid-2015 and has been lauded…
