Professional Documents
Culture Documents
Step 1: Executive Summary: Submit executive summary for private funding. Important
information needed in summary is below:
d. Land Value
g. Source of funds.
j. Collateral
Step 2: NCND: Must be completed and signed by all parties before conference call with
investor or private lending firm.
Shauni Siu Real Estate Group
Inc. 5401 S Kirkman Road Ste
360
Orlando, Fl 32819
Office: 407.926.0323/ Cell: 305-206-3527 Page 1
www.ssfundingsource.com
Step 3: Conference call: This call is with the private investor or group to determine
Letter of Intent. They will basically go over main key points from executive summary.
If the principle does speak English please have translator on the line to
translate conversation.
Main principle and decision makers must be present on the call.
Make sure all parties are on time.
All phones should keep background noise to a minimum and muted when they
are not speaking.
Duration is normally 30 minutes.
Step 5: Letter of Intent: This normally takes approximately 5-7 days after all documents
have been submitted. It will have an outline of terms and fees with request for retainer
fee. Each investor requires a different amount between $3500-$7,000. Some private
lenders or groups do not require a retainer depending on loan amounts. Amounts can
vary, in which most of the funds are refundable if the loan does not close. This LOI has
an expiration of approx. 5 days.
Step 6: Underwriting: Once LOI is accepted and retainer is paid the file goes into
underwriting. The sponsor or principle will be given a list of documents to obtain a
final commitment. Must be completed with 72 hours. This process normally takes
about 30 days after ALL required documents have been submitted.
Step: 7: Loan Commitment/ Appraisal: Each private investor or group has a different
process. Sometimes a commitment is required before appraisal or sometimes it is
required before the commitment. There may also be additional stipulations for final
approval.
CLOSING!
COMERCIAL FUNDING INTAKE/ PROCEDURE
Paso 2: NCND: Debe ser completado y firmado por todas las partes antes
de la conferencia telefónica con el inversionista o empresa de préstamos
privada.