Contact a lender while evaluating an investment property, ideally before committing to a closing deadline. An early discussion can identify questions about property value, renovation costs, borrower contribution, and repayment. If you are already under contract, share the property details and closing date promptly. An initial conversation does not guarantee approval or funding.
Why contact a lender before making an offer?
Discuss the purchase price, renovation budget, borrower contribution, and repayment plan early. This helps identify whether the opportunity may fit the lender’s criteria and which assumptions need further review.
What information can be reviewed before a contract?
You do not need every detail finalized to begin a conversation. Start with the information available and clearly identify any estimates.
Useful starting information includes:
Property address: Where the property is located and what type of property it is.
Expected purchase price: The asking price or amount you are considering offering.
Current condition: Available photos, video, and known repair needs.
Preliminary renovation plan: Proposed work and an estimated budget, if applicable.
Borrower contribution: The cash or equity you expect to contribute.
Exit strategy: How you intend to repay the short-term loan, such as a sale or refinance.
Proposed timeline: Your anticipated purchase, renovation, and repayment schedule.
The purpose is to identify whether further review makes sense and which assumptions need support.
What should you send once you are under contract?
Share the closing date, contract, updated property information, and requested borrower documents. Ask for a list of outstanding requirements and notify the lender promptly if transaction details change.
What commonly delays closing?
Missing documents, title questions, insurance, unclear renovation costs, or unavailable borrower funds can delay closing. Help the process by:
Providing complete requested information promptly.
Flagging known property or title issues early.
Preparing a realistic rehab scope and budget.
Clarifying your contribution and when funds will be available.
Supporting your proposed sale or refinance plan.
How do initial review, approval, and funding differ?
Initial review: Preliminary assessment of the property and plan.
Approval: A lending decision that may have outstanding conditions.
Funding: Release of proceeds after applicable closing requirements are satisfied.
Ask what your current status means and what remains outstanding.
What if your closing deadline is tight?
Contact the lender promptly with the property details, contract status, and exact deadline. Ask whether the timeline can be assessed and what remains required. Do not assume funding will arrive by the deadline without confirmation.
Have a Georgia investment property to discuss?
Prepare the property address, exit strategy, closing date, and photos or video.
Call/Text: (470) 470-9894
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