The buyer has a claim, which they can send to ALTA (I don't know what happens then), and you have a claim.  

Signed the contract for a 2Ac land in April, spent close to $10K in attorney fee, ALTA survey etc. and come to find out that there was a restriction on land that'd reduce the buildable area by 25%.

You should be able to show equity and debt options to even go under contract.However, if you get something under contract, but don't close, your reputation is tarnished and people will not want to do business with you.I pay wholesalers, they either want 4% or 20% if double close and paid for Phase I, ALTA survey, site plan, zoning analysis, lease abstracts, etc.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $215,000

Cash invested: $50,000

This was a 3 unit in an amazing part of town! The seller did not take care o...

You will need a commercial narrative report (commercial appraisal), possible environmental report and the land may need top be surveyed to get the proper ALTA endorsements from title.

As I am overseas, I was not as closing, and the original ALTA commitment from the title company under the requirements stated the loan would be released.

The Alt-A could be a 5-year, 7-year, 10-year and even a 30 year fix with up to a 30-year amortization which will have a 5-year prepayment penalty (optional is a 3-year prepayment penalty.)

There are about 4-5 attorneys in CLT that are good with understanding the nature of the assignment contract and how to account for it on the ALTA etc.  

Is there anyone in this forum that has done business with this company? I’m inquiring about a commercial mortgage with them and I wanted to know if they were a good lender. Also does anyone know of anyone good commerc...

For example, one of my project located at 3699 Alta Mesa Dr in studio city.