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We purchase under a new LLC to purchase a 523 apartment complex i Dallas, Texas, Parqie Rio, 2777N Buckner, Dallas on a land of 23 acres. The purchase price we brought from auction is 3.6 Million and the closing is 15 Oct 2011. The apprasial is 23 million in 2004 and Property tax appraisal last year is 6.75 million, The occupany is 61%. We want to apply for aloan of 60%. Can we compleate the loan process in 2 weeks ??

by nayyli_767_311 from Dallas, Texas. Sep 28th 2011 Reply


Walt Terry (ARMortgage)
#6 ranked lender in Arkansas - 11 contributions

I would be cautious of anyone who tells you that you can get this done in two weeks. While its feasible its not really probable. Thats a lot of money for any bank to loan on and Im sure they are going to want to take their time and not rush into something like this. FYI you would also be better served by a local bank who has people who know the property and area.

Sep 29th 2011
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Rudi Hofmann (CaPortfolioLoans)
#278 ranked lender in California - 380 contributions

Two weeks will not happen. Even with a lender that performs magic. This is from my webpage. Can you possible see that it will tale longer? http://www.umboc.com/PageContent.aspx?PageID=210Happy funding, Rudi

Sep 29th 2011
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