Hi Everyone!
I apologize for any incorrect formats or if this is the wrong location for my question(s) as this is my first time posting a question here on Bigger Pockets.
I have been in the process of attempting to purchase our 2nd investment property, which is a unit in a Condotel. However we are having trouble getting proper documentation for lending institution from the Company that owns the building.
Everything else is in order, except that the building owner has refused to allow the insurance company to add the lender as an additional loss payee (which as I understand, is both required and standard by lenders in order to be able to loan).
Are there any other options here? I haven't tried going to another lender yet because my current lender said that all other lenders require the same thing, and they too would get stopped in their tracks at this juncture.
Any advice, suggestions, or questions welcome!
Appreciate everything I have read and learned on Bigger Pockets thus far!
Thanks!
