How to prepare your financing file for funding?

get the right advisor for your real estate investment

Once the negotiations passed with your broker, this is what happens and you will have to make sure you are ready for it? How to prepare your record of funding? What are the requested documents? Simple questions to anticipate upon signing the deal!

We always prefer the stages of negotiation than paperwork stages. But what comes next is equally important and should not be overlooked. This will certainly prevent you from finding yourself in a compromising situation 2 weeks from the deadlines stipulated in your deal clauses to conclude your finance contract.

These steps and items that you will be asked must therefore be anticipated as soon as possible and no later than shortly after the signature of the deal.

Key steps to consider

To properly consider the thing, here is a presentation of the key steps once an agreement reached with your advisor being the bank or the dealer.

Your broker will search for you nearest agency you or your place of work, given that a dynamic agency is preferred.

A number of supporting documents will be asked to justify your situation.

Once your entitlement is full, your advisor will alert the real estate agency that the record has been deposited in the bank.

Your case then switches to the director of the banking agency associate, who shall give his decision.
Once the bank grants the loan, they will make a financing offer and send it to you by mail for signature. This offer may not be accepted in a legal deadline of 10 days. Once accepted and signed, you must return it to the Bank.

The Bank will transform the supply of finance that will be sent to the notary to prepare the case for the final sign.

© Graydon Manor