Hi
A question for a bank person or broker
I am trying to find a bank that would take this deal on,
commercial
Property value is $3,200,000.00
bank can get there own valuation done and it will still be $3,200.000.00
Now I can buy this property for $2,000,000.00
It has genuine leases in place paying $240,000.00
Is there any banks out there that would look at the real value of this building and then loan the $2,000,000.00 which still means they have a safety net of $1,200,000.00
Rather than looking at the price I can buy it for.
A question for a bank person or broker
I am trying to find a bank that would take this deal on,
commercial
Property value is $3,200,000.00
bank can get there own valuation done and it will still be $3,200.000.00
Now I can buy this property for $2,000,000.00
It has genuine leases in place paying $240,000.00
Is there any banks out there that would look at the real value of this building and then loan the $2,000,000.00 which still means they have a safety net of $1,200,000.00
Rather than looking at the price I can buy it for.