Avatar's Blog
» Long Closing Times
Although Avatar prides ourselves on speed, we are very flexible when it comes to closing deals. Once a term sheet has been issued and the property has been inspected (with the aid of the closing costs check), we can fund immediately. However, paperwork, legal assistance and unexpected delays come up all the time.
In general, term sheets are offered with a term of 30 days. If you choose to take the loan, it should be closed within that time period. However, in some cases, Avatar is flexible enough to hold your funding for several months, if need be. Our institutional backing means that your loan money will not dissappear and funding can still be completed ,even if the target dates have passed. Additional inspections or work may be needed if significant time has passed.
