$9.9 Million | Retail
St. Petersburg, FL
- Loan Amount: $9,900,000
- Loan Term: 3 Years
- LTV: 45%
Retail Property In Uniontown, PA
- Loan Type:
- Bridge Loan
- Loan Amount:
- $3,000,000
- Loan Term:
- 1 YR
- Amortization:
- Interest Only
- Recourse:
- Non-Recourse
- LTV:
- 67%
Challenges
• The winning bidder was faced with a challenge when the seller expedited the closing time-frame from 60-days to 30-days.
• Money360 was able to adjust loan programs and work with the winning bidder to ensure the timeline was met and the property and earnest money were not lost.
Solutions
• This Ten-x bidder was a textbook example how the collaborative Ten-X/Money360 process yields great results.
• Prior to the auction, an LOI was secured by the bidder, allowing them to bid with confidence.
• Money360’s competitive rates, paired with speed and certainty of execution provides piece of mind for auction participants.
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