![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Monday, August 13, 2012 12:46:25 AM
You are correct" the official appraisal will seal
the deal one way or the other".
I personally have never been involved with a commercial property transaction, but I do know that there are several different procedures that are followed depending on the type of sale being processed. Therefore, in order for us to make an effective analysis of the pending transaction we must first know what procedure is applicable and what requirements need to be met.
If there is no official and or a recent appraisal by
a certified appraisal, why is Mr. Swank making the",
following statement, " everything is falling into place
"We've been working with several potential lenders and
it looks very promising now; it's about choosing the
best one".
First of all without an official CURRENT appraisal there will be no deal. In my humble opinion Mr. Swank is attempting to advise us that the difference between the suggested purchase and the the mortgage amount is such that there are a number of investors that are willing to underwrite the mortgage.
How can you make an offer let alone sign an agreement,
when even Mr. swank states that he has not yet made a
due diligence of the property.
My understanding is that the agreement we signed was to indicate a sincere interest in purchasing this property. That gives us permission to investigate the background and condition of the property.
CGAQ has made an offer and signed a sales agreement and
does not know yet the value of the property and is now
negotiating for the best lender and that "it looks very
promising now".
Apparently a ballpark figure was suggested to the seller and the seller responded favorably. Once that occurred that set the wheels in motion to begin the various steps necessary to leading to completing the sale. Mr. Swank, Dr. Leiber and a private engineer were scheduled to inspect this property this past week. As I see it they were inspecting the property to determine what if anything needs improvement and estimating the cost of any such improvements. This process can weigh heavily on the final bid to purchase. However, these figures will not be entered into the bidding process until after the appraisal is available.
Based on the preliminary figures being used to date CGAQ has apparently made several contacts with various lending institutions establishing their respective interest in this project. As you know the mortgage market is hurting for business, consequently they have developed many different methods to qualify a borrower. Like I stated at the beginning it will depend on what program is selected which determines the requirements that need to be met.
Based on the above - If Dr. Leiber believes we have a good chance to seal this deal that's good enough for me. PB
FEATURED ELEMENT79 GOLD CORP PROVIDES UPDATE ON CHACHAS COMMUNITY CHARTER AND REVENUE GENERATION, M&A ACTIVITIES • Jul 30, 2024 8:00 AM
Avant Technologies Opens Equity Line with GHS Investments as Company Explores Expansion into Additional Technologies • AVAI • Jul 30, 2024 8:00 AM
INDEXR AI Merges With Moon Equity Holdings Corp. (MONI), Creating a Leading-edge Technology Company • MONI • Jul 29, 2024 9:59 AM
Cannabix Technologies to Deliver Innovative Breath Logix Alcohol Screening Device to Texas, USA • BLOZF • Jul 29, 2024 9:07 AM
BNCM AND DELEX UNVEIL POST-MERGER MANAGEMENT PLANS • BNCM • Jul 29, 2024 9:00 AM
Glidelogic Corp. Announces Revolutionary AI-Generated Content Copyright Protection Solution • GDLG • Jul 26, 2024 12:30 PM