OUR BUYING PROCESS
INITIAL ASSET REVIEW/DUE DILIGENCE
Upon receipt of the asset documents and material information our underwriting team will evaluate each asset within 48 hours. Once the valuation of the collateral and loan is completed we are ready to make an offer.
Management will review the key factors of each asset and submit an offer to the seller for review, including the terms and price under which we would like to acquire the asset.
Once the terms of the agreement are approved, we move to signing the loan sale agreement.
FINAL DOCUMENT REVIEW
Any due diligence documents that were not obtained in the initial review will need to be reviewed so that we can confidently proceed with closing.
After all documents relating to the loan have been reviewed we are clear to close. If all documents have been reviewed before the close date we strive to close early.
Back Bay Investment Group help lenders liquidate their distressed loans and real estate borrowers in default situations. We designed a process where we look at all available alternatives to develop a custom solution specific to the property. With fewer restrictions from an acquisition standpoint, we can provide more options creating a win/win situation for lenders and borrowers.
Our process is streamlined and fast, with minimal paperwork. We guarantee an offer within 3 business days. 100% of our loan acquisitions close in 30-days or less once due diligence is complete and all documentation has been approved. After all paperwork has been signed, payment is made within 72 hours.