Case Study: Down Payment Support – Rent Credit
A proprietor had been leasing his building for more than ten years and had the opportunity to buy it but didn’t have enough cash for a reasonable down payment.
Bankers want to see a buyer have “skin in the game” through a reasonable down payment.
We were able to get the seller to accept a discounted purchase price for the building reflecting a rent credit. We were able to demonstrate to the bank that the purchase price was not inflated and that there was a true economic down payment through the rent credit.