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Updated about 4 years ago on . Most recent reply

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42
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Frank Chirkinian
  • Real Estate Investor
  • Boca Raton, FL
23
Votes |
42
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Commercial Property Refi and Listing at the same time? Yes? No?

Frank Chirkinian
  • Real Estate Investor
  • Boca Raton, FL
Posted

I'm in the process of refinancing a multifamily property of mine in Fort Myers, Florida and I'd like to listing the property on Loopnet at the same time.  Wondering if anyone out there in the commercial mortgage market can let me know if this is a no no.

I do know that in the residential market, listing your property on the MLS will more than likely kill your refinance. I don't plan on listing the property on the MLS...just Loopnet.

Any thoughts from the finance crowd would be appreciated.

Most Popular Reply

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3,784
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3,451
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Evan Polaski
  • Cincinnati, OH
3,451
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3,784
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Evan Polaski
  • Cincinnati, OH
Replied

@Frank Chirkinian, I am more confused as to why?  Do you think you the property will take a while to sell?  Is your mortgage coming due? 

The refi will cost you money, and many commercial loans have prepayment penalties, so why refi and spend the money just to turn around and sell the asset anyways?

  • Evan Polaski
  • [email protected]
  • 513-638-9799
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