Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 7 years ago,

User Stats

184
Posts
48
Votes
Robert Lindsley
Pro Member
  • Real Estate Investor
  • Orlando, FL
48
Votes |
184
Posts

Would you sign this private lending agreement?

Robert Lindsley
Pro Member
  • Real Estate Investor
  • Orlando, FL
Posted

Hi there,

I am getting ready to purchase a multifamily property in FL.  The listing agent is arranging the financing through a private lender so it's a fast closing.  I've never gone through the private lending process before and the contract feels very burdensome.

Could I ask one of my fellow BP members to take a look at the agreement and let me know if there's anything weird or that you wouldn't be comfortable with signing?  I'm not asking for a legal opinion, but rather somebody who's been through the process before and their thoughts (and knows what to expect).  I'm not sure if all agreements are like this because it's my first time going through private lending.

I need to make an offer ASAP and no lawyer can look at it in time for me to get an offer in before the two other buyers nipping at my heels.

If you are willing to take a quick look I'll send you the agreement via PM.

Thanks!
Robert. 

  • Robert Lindsley