Friday, June 11, 2010

Latest Underwriting Condition


We have been really busy with all of the transactions we have going on.

Things to be concerned about for us right now are the ongoing appraisal issue, increasingly onerous underwriting and funding conditions that are coming from the banks, and of course the highly controversial new SAFE Act which seriously affects investors' right to seller finance.

One of the most recent funding conditions we had was based on an underwriter's viewing of some chipped paint on an outside garage which we had to paint prior to funding (pictured here beautifully repainted in its entirety at a cost of $200)

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