Make sure the lender has what they need before closing due diligence.
When obtaining mortgage financing the lender’s checklist should become the buyers second due diligence checklist. The buyer needs to make sure the lender’s consultant is coordinating with their consultant. And once all of that is in place the buyer needs to confirm the lenders commitment and closing schedule before executing the purchase and sale agreement. This video reviews these commonsense steps and discusses lease reviews, estoppel certificates, and credits and prorations.
Larry N. Woodard
- Partner of real estate practice group of the Chicago office of Honigman LLP
- Practice emphasis in all areas of real estate law, including commercial real estate transactions, real estate development, joint ventures, real estate-based lending, loan workouts, foreclosures, construction law and mechanics liens
- Represents Fortune 500 companies, developers, regional and national banks, institutional investors, special servicers, higher education institutions, units of local government, REITs, contractors, landlords, tenants, receivers and real estate brokers
- Noted speaker and writer on a variety of real estate topics
- Completing acquisition, economic incentives, leasing and complete redevelopment of 1.6 million square food corporate headquarters
- Recently completed one of the largest investments of Chinese capital in the country
- Publishing a treatise on reciprocal easement agreements and vertical subdivisions
- Adjunct professor of law, The John Marshall Law School
- Member of the International Council of Shopping Centers and the American, Illinois State and Chicago Bar Associations
- J.D. degree, LL.M. and B.S. degrees in real estate, University of Illinois and The John Marshall Law School
- Can be contacted at 312-701-9331 or [email protected]
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