PML report for Financing Apartment Buildings pre- 1980 construction.

By
Mortgage and Lending with Landview Financial

Apartments with parking on the first floor are prone to collapse if ground floor walls and columns are not strong enough to hold up building during a major earthquake.

Fannie Mae now requires this PML probable material loss report that supports if the buliding will have greater than 20% total loss or destruction from major quake. If so, then retrofitting will be required to obtain financing. Fannie Mae has the best rates and terms available for Apartment Owners around.

The reports , done by engineering firm can cost $1,000 which will only let you know if your building needs retrofitting.

Consult your architect or certified civil engineer to help evaluate your buildings condition.

 

Comments (3)

Kwee Huset
Kwee Huset Realty - Venice, FL
Venice Florida Homes For Sale

Hi Christopher, Thanks for sharing & Congratulations on your 1st post. Welcome to activerain, visit  http://activerain.com/blogsview/1999491/activerain-university-training-calendar  you can join up to 5 groups for your post. Members at AR are very friendly and helpful; I learned alot about blogging and SEO.  Wish you good luck.

Jun 11, 2011 03:53 PM
Christopher Williams
Landview Financial - Los Angeles, CA

Thank you Kwee Huset. I'm doing my best to learn this. I have not been online in a few days at least on Active Rain. My greatest strenth is Lending or Finance. Looks like with this market I will be forced to do some selling. 

 

Chris Williams 

Broker /Mortgage/FHA/Comercial 

Jun 19, 2011 03:31 PM
Anonymous
Chrsitopher Williams

Vick, I work  primarly the california market; However, I can go to other states but the terms can be different depending on each state. 

 

Sincerely,

 

 

Christopher Williams 

Jun 29, 2011 11:35 AM
#3