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Sometimes, during the course of a construction or permanent loan, trouble strikes and the borrower cannot complete the construction or turn the project around. Even though the lender hopes to keep the property “off the books,” it becomes more difficult to save the project as time passes. Action is needed—but what course should be followed?
The sooner you choose to involve the experts at Merritt & Harris the better for the project. From the first phone call, Merritt & Harris’ personnel will be thinking of the expertise needed to address the issues pertinent to your particular project. The focus will always be on proceeding in a manner that will lead to the presentation of the proper options rather than to assign blame for the problems. Merritt & Harris’ unbiased and independent approach is to have its assessment team visit the site, meet with the lenders and appropriate professionals that have been involved with the project, formulate a plan of action, and develop a proposal for either accomplishing the completion of the construction or, in the case of existing properties, develop options that will make the property salable.
For further information regarding this service, contact Manny P. Kratsios at mkratsios@mharrisinc.com | |
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