Here's a tip for working with hard money lenders

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Here's another tip for working with hard money lenders. 

Plan ahead. Give yourself some time to close your loan. Don’t wait until the last minute to try and find a lender. Find a lender or know who you will contact before you make the offer. You might also try to build in an extension clause in your contract should you need an extension when the time comes.

While hard money lenders can usually close loans quickly, the process and necessary steps are always going to be followed regardless of the borrower’s timeline to close. The time it takes to complete the appraisal, title work, and loan documents depends on a number of factors but usually a 10 - 14 day window is necessary. This is closing timeframe is a lot quicker than most traditional lenders can or will close a loan but it still takes some time.

Do you have hard money loan questions or tips?