A significant part of Turner Hopkins' practice involves assisting clients in relation to finance.
There is often a funding component involved in residential commercial property transactions. We assist clients in preparation of security documentation whether it be bank funding or vendor finance. This involves the review of security documentation including loan agreements, guarantees and mortgage memoranda to ensure they represent the transaction negotiated by the parties. We also assist in ensuring ancillary documentation such as company and shareholder resolutions, trustee resolutions and the like are complied with.
We have considerable experience and expertise in the review and preparation of security documentation for entities who provide funding and lending as their principal business activity. This includes review of standard documentation and preparation of new precedents.
Occasionally lenders can encounter a default by a borrower. We have proven experience and success in assisting the lenders in their preliminary assessment of the security options including, where necessary, appointing appropriate valuers or assessing and commenting on the options available to maximise their return from the security (e.g. obtaining a subdivision consent or reviewing the validity of guarantees and their worth). We provide comprehensive professional services in all aspects of the mortgagee sale process including issuing letters of demand and preparation of the statutory notices required before a mortgagee sale can take place, preparation of particulars and conditions of sale (the contract upon which the property is sold through to final settlement of the transaction).
There are often competing securities and it is vital any impediments to realising the security are identified early in the process and addressed to maximise the return on investment.
If you would like to discuss any aspect of the professional services in this area, please contact Mike Newdick using the form below.