Return To Blog
Due Diligence - The Second Step
By David Schmidt - December 14, 2017
Once a term sheet has been executed by both CoHI and the borrower the next step in the process is the due diligence period. This is where either Mike or David not only visit the property but also verify the value of the subject.
CoHI does not require a due diligence fee for this service nor do we generally require a costly and time consuming appraisal.
Depending on the location of the subject property Mike or David will visit the property, meet the borrower and if necessary walk the boundary of the subject. We then take that information back and verify value. This process is quick and can in most cases only take a couple of days.
Once the value of the property has been verified we can go on the next step in the process.
Call David at 970-922-3277 to discuss loan terms.