REFINANCING

Here is a guideline on how we will help you navigate the refinancing journey:

1. We Assess Your Financial Goals:

  •  Evaluate why you are refinancing (e.g., lower interest rates, change in loan terms, equity cash out).

  •  Determine your long-term financial objectives and how refinancing aligns with these goals.

2. We’ll Review Your Current Mortgage:

  • Understand the terms of your existing mortgage, including any prepayment penalties or terms that may affect refinancing.

  • Consider the remaining duration of your current mortgage and how a refinance will impact this timeline.

3. Help Gather Financial Documentation:

  • Compile necessary financial statements, including recent tax returns, profit and loss statements, and balance sheets.

  • Prepare a detailed list of your current assets and liabilities.

4. Assistance in a Property Assessment:

  • Evaluate the current condition of your retail property. Consider conducting a professional property condition assessment and/or appraisal.

  • Identify any improvements, repairs or leases that may increase the property’s value before refinancing.

5. We Analyze Market Conditions:

  • Keeping you informed about current market interest rates and lending trends.

  • Help you understand how the retail market’s performance in your area might impact your refinancing options.

6. The Marcus & Millichap Capital Corporation (MMCC):

  • They will identify potential lenders, including traditional banks, commercial lenders, and other types of financing sources.

  • Utilizing MMCC’s expertise to navigate the complexities of the refinancing process.

7. Prepare You for the Application Process:

  • Guidance through a review of your financial health and the profitability of your retail property.

  • Ensure all documentation is accurate and up-to-date to streamline the application process.

8. Evaluation of Loan Offers:

  • Help you review loan offers, paying close attention to interest rates, loan terms, fees, and any covenants or stipulations.

  • Help you choose the offer that best aligns with your financial goals and the needs of your property.

9. Keep You on Track for Closing:

  • Preparations for the closing process, including understanding closing costs and any necessary legal documentation.

  • Review of all closing documents with utmost care before signing.

Refinancing a retail property is a significant decision that requires careful consideration and preparation. By working with us, you can position yourself for a successful refinancing experience that aligns with your financial goals.

Should you need any assistance or have any further questions about this process, please do not hesitate to reach out and contact us.