Eric Dean
The Term Sheet is often used in a real estate transaction as a preliminary document that is incidental but not integral to the ultimate transaction because it is usually defined as “non-binding,” “confidential,” “preliminary” and/or “expiring.” But that should not lull either party in the transaction—property buyer or property seller—into ...
Know Before You Go: A Loan Commitment Checklist
While issues such as interest rates, principal loan amounts, underwriting requirements, etc., generally are included in a loan commitment, many issues are often not addressed until after the prospective borrower has signed the loan commitment, paid the nonrefundable loan commitment fee and funded, in advance, a deposit for expenses related ...
