LOI Says Fast Close — Treasury Says Hold My Volatility
Expectation: 60-day close at 6.25% Reality: 10Y jumps 30 bps, lender “re-underwrites” to 7.10% and DSCR flatlines Me at 2am in Excel: hardcode, goal seek, circular ref, whisper “stabilized NOI” 😵💫 Seller: “Non-refundable by Friday?” Me: “When the estoppels and SNDAs stop ghosting.”
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