Q: If the appraisal and environmental reports are completed for a property before coming to Marabella Commercial Finance for a loan and are less than one year old, is Marabella Commercial Finance able to utilize these reports?

A: Normally the lenders we work with are able to utilize or update (for a cost) appraisal and environmental reports if they are under one year old and are acceptable to the direct lender. The cost involved in updating an appraisal and/or environmental report is considerably less than undergoing a completely new report in most cases. In some cases however, the lender will review a report(s) and require that a new report(s) be performed at full cost to the borrower.