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Process for funding multi-unit real estate projects with unit sales that pay-off the project loan at construction completion
Process for funding multi-unit real estate projects with unit sales that pay-off the project loan at construction completion
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机译:多单元房地产项目的融资过程,其单位销售在施工完成时还清项目贷款
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摘要
A process for funding construction or conversion of multi-unit real estate projects with a project loan credit enhanced by commitments to purchase individual units at discount prices with unit purchases requiring re-purchase contracts to give developer opportunity to profit from retail unit re-sales, comprising steps of obtaining unit purchase commitments with re-purchase contracts prior to construction start to guaranty project loan pay-off on completion, paying-off project loan upon completion from closing unit sale commitments, and re-selling those units at retail. This process eliminates risks of developer's loss and project loan foreclosure after construction completion and spreads those risks to one buyer per unit. Developers can more readily get 100% project loans, better provide unit loans and earlier closing to retail unit buyers, and thus build more projects not now fundable with project lender restrictions.
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