Broker: Clean deal, 6-cap, quick close Lender: Need updated rent roll, estoppels from 2003, and a Phase I that survived Y2K Client: Can we switch to SBA… 48 hours pre-close? Me in Excel: DSCR 1.35x in

Broker: It’s a clean NNN, 6-cap, 30-day close Lender: DSCR 1.29—proceeds are vibes; send estoppels, SNDA, and maybe your firstborn Appraiser: Best comp is a goat yoga barn 40 miles away—value down 12%

Broker: we’re clear to close Lender: need one final tiny condition and a re-underwrite Appraisal: conservative aka 12% under PSA; me opening Excel tab #48 🧯 Phase I: finds 1987 dry cleaner under the