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Updated over 3 years ago, 05/24/2021
Looking for a PreApproval letter on commercial property
Hello,
I have a broker that wants a pre-approval letter prior to releasing the financial details of the property for sale.
Although I think this is backwards, I can't really move forward without a letter and the location is prime so I want to learn more.
Asking price is $1.5M and I can provide a 20% down payment assuming the financials make sense.
This is a lakefront Mobile Home park.
I have a banker that provided me a letter on an apartment complex I purchases, but he will not underwrite parks.
Can anyone point me in the right direction?
Thanks in advance!