What does Full Service mean?   

You could do your own plumbing, taxes, put on a new roof and even your own legal work, but why don’t you? Because using a trusted proven professional saves you time, money, and hard life lessons. It’s your time and money. Let the 25 year professionals’ work for you!  

A full service commercial mortgage brokerage moves a loan from start to finish involved in every facet of a transaction.  It is specialized expertise that only comes from years of closing loans.   There are many individual parties involved in every commercial loan transaction.  Each party with a specific function and skill set. Who are they?

 

• Buyers and sellers of commercial properties. 

• Commercial real estate brokers that list and sell properties.  

•  Lenders make offers and underwrite to close “their” loan products only.

• Appraisers that provide value on properties with an appraisal.

• Title companies research title to make sure there are no encumbrances on properties and are clear to insure with title insurance. They also help facilitate the close between buyer and seller.  

• Insurance companies insure.    

The others variables and parties that may be involved in transactions;

 

• Municipalities on zoning issues

• State and local municipalities on tax issues

• IRS

• Foreclosing banks

• Banks that own the property

• Outside attorneys  

It is the full service brokerage that acts as the quarterback moving the ball down the field knowing every inch of the loan file and can act fast and efficiently when problems arise 99% of every deal.  Knowing a lender is only 5% of any transaction.  Having a team that can close is 100% of a transaction.  You can do your own taxes, be your own lawyer, do your own plumbing, but why don’t you?  Having a trained professional by your side on what are typically the largest financial transactions in anyone’s life is not only prudent and good business, but vital for success.  
What does a full service commercial brokerage do?  

 

• Loan packaging.  Many borrowers do not know how to properly present a loan file to a lender.  Statistics show that 50% of deals are turned down because of presentation.

• Problem solving and offering creative solutions when a borrower is turned down or doesn’t know what a best option may be.    

• Present best rates and term options to borrowers with a loan need.  Rate is small component.  Pre-payment, speed to close, max cash out are all factors.  Knowing the best loan for a borrower need at that moment is very specialized. 

• Deal placement with hundreds of options knowing the best and most current lending options nationwide. “Selling” the deals to a lender is often necessary when dealing with unique circumstances such as fair to poor credit, quick close, first time borrowers, etc.  

• Facilitating ordering of appraisal.

• Facilitating ordering of title.

• Appropriate document collection to final underwriting.  Again packaging of the information is key to close. 

• Coordinating close with all parties including but not limited to realtors, buyers and sellers, title companies, appraisal companies, lenders, and attorneys and more.  

 
Real Examples of why you need a full service brokerage:

 

• Borrower running out of time on purchase and sales agreement about to lose deposit. The brokerage provides a creative solution by calling the seller for an extension on the buyer behalf.

• Bank selling a property and didn’t disclose a sink hole.  Brokerage coordinated with title and determined risk too big.  Helped borrower find more suitable investment and closed new loan.  

• Wind insurance after hurricane. Brokerage coordinated new policy options as first quotes made the loan nonviable to new debt service ratio.

• Law suit mid transaction.  Brokerage coordinated every aspect from attorneys to buyer and seller, to realtor, to owning bank to a successful close.

• Existing lender can no longer do loan mid transaction through no fault of borrower.  Buyer will lose deposit earnest money.  Brokerage issues pre-approval same day with new lender allowing borrower to get an extension to close.

• Borrower starts construction prior owning property.  Brokerage coordinates all documents and packages loan properly where it “makes sense” for the lender to close.

• Borrower takes out loans mid transaction lowering fico scores before new close.  Brokerages issues new offer and still closes before deadline.

• IRS issue.  Brokerage coordinates with the IRS agent to get the payoff request needed to close loan.

• The title company chosen by borrower won’t clear title. Brokerage brings in new title company to get clearances to close loan.