LOI vs Credit Committee: Net Lease Horror-Comedy
- ricklahkar
- 21 hours ago
- 1 min read
Broker: LOI signed, NNN, sleepy cap. Lender: Need one more doc—the estoppel, SNDA, Phase I, Phase II (maybe), and tenant DNA. Appraisal: Value -7% because the co-tenancy clause 'gives us the ick' 🤡 Client: We still close Friday? Me, re-underwriting DSCR at 3am: Absolutely—right after sensitivity #47 😵💫
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