I’m not sure, but will a transactional funding institution be able to supply a statement for the remaining balance?

Hi Christian,YOU are awesome.Thank you--you are right on target with so many items above.I have a 16' class a buffer on both boundaries and have permission to reduce that another 25%.A major med institution is interested in my parcel BUT they require 6/1000 sf parking. ( Why wasn't Elon Musk born 20 years earlier-- then we wouldn't have these wasted paved parking requirements.)Anyway, the buyer prospect needs min 15,000 sqft... but cant get the 90+ surface parking #s.HATE TRIANGLES.Please, Let me know if you have ANY TIME tomorrow ???

They do not get their loan products from Freddie / Fannie or any other institution, so they have more flexibility on their criteria and how they loan.

Just get a check from each institution?

I believe arms length precautions only come in to play when a financial institution is involved.

With all due respect to any who may disagree, as regards downpayments, contractors are not lending institutions; just like no one buys a car without a downpayment.

To make everything cleaner, you would want the financial institution to report the interest under your SSN or entity's EIN (TIN).

Can you elaborate more on the deal, who is the seller, individual or institution?

I work in real estate, but am used to looking at larger, institutional industrial deals.

mitchell,i have not. i am self employed and no w2 income makes thing very hard, from the borrowing aspect. i was hoping to deal with some institution that is local or at least regional and knows the area and how to lend in the area. i tried about a year ago with wells fargo and they would not do the loan at 50% ltv because hoa did not have audited financial statements. the only reason. so i would like to spear myself 6 month of frustration and deal with someone else. any advise???????????