Does Hard money brokers need to speak with the Realtor’s client?
We always need to have a clear discussion with our clients to best assist them in obtaining real estate financing.
How can we know if the Borrower is capable of getting financing?
If we have all the necessary information then it will take only an hour to complete the necessities. On the basis of the verbal communication we have with our Borrowers, we can determine a Yes or a No over a telephone call.
Can a Realtor charge a loan commission on a loan submitted?
Yes. According to the California Department of Real Estate’s regulations, we are required to pay a licensed California Real Estate Broker. Hence, if a Real Estate Sales Agent submits their client’s loan request to our company we are required to pay their employing Broker.
What is the normal tenure between loan submission and loan funding?
It is between 1 and 2 weeks that comes with our disclaimer ‘’provided that all requested information and documentation we need to help our Client/Borrower is delivered to us in a timely fashion.’’