When the T-12 Says “Maybe”: Broker vs Lender vs Reality
Broker: LOI signed, vibes immaculate Lender: Need updated T-12, Phase I, SNDA, estoppels, and the roof’s birth certificate 🧮 Appraiser: We used a comp from a 1997 bowling alley two counties over Client: Great—so 6.5% fixed, 80% LTV, non-recourse by Friday? Me: Absolutely… in Narnia 😂
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