At the request of an existing client, Seattle Funding Group of California provided transitional financing at a 60% level for the acquisition of this terrific Bayfront investment property. The client, called under time pressure, and had only one day remaining to close the escrow. We met him at the property that same day, provided the immediate deal certainty necessary to negotiate a one-week extension and then worked closely with the parties to meet the new, still abbreviated, deadline.
It certainly helped that SFG of CA knew both the client and the submarket, but as always, there remained a great deal of ground to cover to properly underwrite the request and safely document the closing. In the end, SFG of CA’s staff got it done, and did so with no extra charges for the responsiveness.
SFG of CA would like to thank the professional Team at Chris Love Coastal Properties for their assistance in confirming local market conditions and present value. SFG of CA would also like to thank Dennis Doss of Doss Law for the handling the intricacies of the reverse exchange…and to all for helping add yet another fine coastal property loan to SFG’s ever-growing portfolio.