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» Documenting Corporate Owner of Commercial Properti
Posted on 1/24/2005
If you are purchasing commercial real estate property and require a hard money loan to complete the deal, you will be asked for a number of documents to support your loan request. Having these documents ready will assist in closing your loan more quickly.
* Corporate Resolutions - a 10-15 page document that explains the structure of your corporation and who gets to sign for financial obligations)
* Two Years' Tax Returns or Other Financial Statements for the company
* 3 months' bank statements
* Personal Financial Statement for the principals
* Proof of where the 20% required cash infusion (downpayment) from the corporation will come from - bank statement may show the money there. If not, clear proof of where the money will come from is required before closing.
Being prepared with clear, trustworthy documents in advance will help your loan close more quickly.
Posted in Miscellaneous
* Corporate Resolutions - a 10-15 page document that explains the structure of your corporation and who gets to sign for financial obligations)
* Two Years' Tax Returns or Other Financial Statements for the company
* 3 months' bank statements
* Personal Financial Statement for the principals
* Proof of where the 20% required cash infusion (downpayment) from the corporation will come from - bank statement may show the money there. If not, clear proof of where the money will come from is required before closing.
Being prepared with clear, trustworthy documents in advance will help your loan close more quickly.
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