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Just hit a wall with a CMBS loan assumption on a strip mall deal...
We were buying a property in Tampa with a loan already in place, figured the assumption would be quick. The lender's legal team kept asking for the same documents over and over, saying they were lost. This went on for 14 weeks. Finally got a call that one person on their side was out sick and no one else could sign off. Has anyone else had a simple assumption turn into a months-long paper chase?
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taylor.susan7d ago
Hired a local attorney to walk the documents over.
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craig.grant7d ago
Oh interesting. I've actually seen this before. Attorneys don't usually do the physical "walking over," that's typically a paralegal or a legal courier. The attorney is the one who signs off and gives the final okay for someone else to deliver it.
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