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Construction Loan Commitment Letter

Book Publication Date: Oct 2013
Description: Once all the key terms of a construction loan have been negotiated between the lender bank and the borrower a commitment letter such as the sample included here will be drafted by the bank and sent to borrower. The commitment letter contains all of the terms of the construction loan and will constitute a binding agreement upon signing and return by the borrower.
Type: Contracts
PLI Item #: 60279
Practice Area: Banking and finance, Commercial real estate, Consumer finance, Environmental issues, Environmental law, Litigation, Mortgage loans, Real estate, Real estate litigation, Real estate transactions, Real property

Keywords: "real estate"; "construction loan"; "term sheet"; "loan documents"; "closing date"; property; "maturity date"; collateral; borrower; lender; "cost deposit"; "commitment letter"; loan; guarantor; equity; "intended use"; "stabilization period"

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