First closing coming up — what do I need to know?

Tamika, congratulations!! Here's my pre-closing checklist: 3 days before: - Confirm closing date/time/location with all parties (lender, title, borrower, seller if applicable) - Verify wire instructions directly with title company (call them — don't rely on email due to wire fraud risk) - Confirm borrower has funds for closing costs ready 1 day before: - Get a copy of the closing disclosure and review it - Confirm title company has received the lender's wire - Make sure borrower has ID for closing Day of: - Be available by phone the entire day - Follow up on wire confirmation - Celebrate when it closes! 🎉

The wire instruction verification is critical. Wire fraud is real and title companies are a common target. Always call to verify — never trust emailed wire instructions alone.

Thank you Marcus and Amy!! The wire fraud warning is something I would not have thought of. Calling title company right now to verify. So grateful for this community :)

congrats on your first deal!!! you're going to do great!!

Wire fraud is not a joke. I've seen brokers lose deals and face liability because they didn't verify. Always call.

Make sure you have a license if it is a license required state

Congrats on the bridge loan closing! Leon is spot on about wire fraud; always verify instructions via a known, pre-existing contact number. Beyond that, my biggest piece of advice for bridge loans, especially with a tight closing, is to meticulously review the lender's closing statement and all loan documents against the term sheet. I recently had a $2.5M bridge deal where the lender's closing statement had an unapproved 1% origination fee tacked on at the last minute, which would have eaten into the borrower's working capital. We caught it because we had a detailed breakdown from the term sheet. Also, ensure all conditions precedent, especially any outstanding insurance requirements or entity documents, are satisfied and confirmed by the lender's counsel. Proactive communication with the title company on recording timelines is also key for bridge deals, as funds are often needed immediately post-recording.

Congrats on your first closing! For a $350k bridge loan, the biggest things to watch are title and any last-minute lender conditions. On the title side, ensure all prior liens are addressed and cleared. We've seen deals stall because a small judgment or old mortgage wasn't released, even if paid off years ago. The title company needs time to get those recorded. On the lender side, double-check your loan docs against the term sheet. Are the interest rate, points, and repayment terms exactly as agreed? We often see minor discrepancies that, if caught early, are easy fixes. Also, for bridge loans, confirm your exit strategy is still solid. If it's a refinance, is the take-out lender still on track? If it's a sale, has the property been listed or is the buyer still committed? These aren't closing conditions, but they impact the loan's success post-closing. A smooth closing sets the stage for a successful investment.

Congrats on that first $350k bridge loan closing! That's a great milestone. Linda and Priya hit on some key points. For bridge loans, especially, I always double-check the payoff statements for any existing mortgages or HELOCs. Had a deal last month where a HELOC payoff was missed by title initially, almost delayed a $600k fix & flip closing. We caught it because I asked for a pre-CD review from the borrower and title. Also, confirm the borrower has their insurance binder ready with the lender listed as mortgagee clause. Finally, for bridge, what's the exit strategy? Is it a refinance into a DSCR or a sale? Knowing that helps you anticipate any post-closing issues or future needs for the client. Are you using a local or national title company?

Congrats on your first closing! For a $350k bridge loan, especially on the hard money side, the biggest thing is understanding the asset itself. We're looking at the property's value and exit strategy first. For a smooth close, ensure your appraisal or BPO is solid and supports the loan-to-value (LTV). If it's a rehab, have your scope of work and budget ready. We often fund up to 70% ARV or 80% LTC. For a $350k loan, this means we expect a property value of at least $500k ARV to hit that 70%. Double-check your title for any unreleased liens; that's a common snag. We can close in 5-7 days if everything is clean, but a title issue can add weeks. Make sure all necessary entity docs are current and signed. Speed is our game, but it relies on clean paperwork and a clear asset picture.

Congrats on the upcoming closing! A $350k bridge loan is a solid first step. Building on what others have said, my focus leading up to closing is always on the 'known unknowns' and proactive communication. For a bridge, especially, I'd emphasize two things beyond title/payoffs: 1. **Survey Review:** Don't just glance at it. For a recent $2.5M multifamily bridge, we found an encroachment on an adjacent parcel that required a quick easement agreement. Had we waited, it would have delayed funding. Ensure boundaries, easements, and access points are clear and match the legal description. 2. **Insurance Verification:** Confirm the lender's specific requirements are met. This often includes specific endorsements (e.g., Lender's Loss Payable, additional insured), coverage amounts, and deductibles. I've seen closings pushed back because the initial binder didn't have the correct mortgagee clause or the flood insurance wasn't in place for a property in a special flood hazard area. Get the ACORD form directly from the agent and cross-reference it with the loan commitment. Proactive checks here save significant headaches.

Congrats on your first $350k bridge loan. Everyone's hit on good points. From my side at Novak Capital, the biggest pre-closing hang-up we see, especially on bridge loans, is often around the title work and entity documents. For a $350k deal, we're typically looking at a quick close, so any hiccup here can kill the timeline. Make sure your borrower's entity docs (operating agreement, certificate of good standing, resolutions) are 100% current and match the vesting on title. We've had deals stall because an LLC was dissolved or a managing member changed and wasn't reflected. Also, confirm all prior liens are properly released or subordination agreements are in place. A $350k bridge loan is usually a stepping stone to something bigger, so you want a clean title policy. Don't assume anything until you see the final title commitment and proposed policy.