30 Minute Commercial Financing Analysis

Questionnaire

Note: You will NOT need to complete all sections! Date: __________

Contact Information:
1. What is your name? ____________________________________
2. What is your company name? _____________________________
3. What is your street address? ______________________________________________
4. What is your phone #? _____________ Your fax #? _____________
5. Your cell #? _____________ Your e-mail? ______________________
6. Referred by: _____________________ Phone: ____________ Fax: __________
7. Email: ______________________

Concerning the Property:

1. Property Name: _________________________________________________________
1. Property Address: ______________________________________________________
2. Property City: __________________ State: ___ Zip: _______
3. County: ________________
2. What is the real estate tax bill for last year? $_____________
3. Assessors Parcel Number (Tax ID#): __________________
4. Are there any abated taxes? Yes No
5. If so, how much? $_____________
6. Are taxes fully assessed at this time? Yes No
7. If not, what is the expected full assessment? $______________
8. What is the property insurance bill for last year? $_____________
9. On what date does the insurance premium expire? ___/___/_____
10. Are there any regulatory or deed restrictions concerning the property? Yes No
11. If yes, please explain:
___________________________________________________________________
12. What percentage of the project is physically occupied? _____%

Concerning the Improvements, the Site & the Tenants:

Send us an old appraisal if you have one. (We'll send it back if you want us to.) If you don't
have an old appraisal, please tell us:
1. How many buildings? ________ How many stories? _______
2. # of parking spaces: Covered? _____ Uncovered? _____ Garaged? _____
3. Type of parking? ______________________
4. What is the site size? ___________ SF
5. When was this property built? ___/___/_____
6. When was it last renovated? ___/___/_____
7. Total cost of renovations: $_________
a. Description: _____________________________________
8. What is the Annual:
a. Gross Scheduled Income? $ ___________ (A)
b. Expenses: $ ___________ (B)
c. Net Operating Income: $ ___________ (A-B)

© C. S. Higdon, Inc., 2007-2009. 7300 W. 110th St., 7th Floor, Overland Park, KS 66210. 888-578-5441, 310-388-4604 Fax
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 30 Minute Commercial Financing Analysis
Questionnaire
9. If this is an Apartment Building:
a. How many units? ________
b. What is the unit breakdown, how many of each type, and the SF of each:
________________________________________________________________________
________________________________________________________________________
c. What percentage of the units are leased to:
1. Students? ___% Section 8? ___% Military? ___%
2. Retirees? ___% Blue collar? ___% Professionals? ___%
d. How many corporate units? _____
e. How many furnished units? _____
f. How many studio units? _____
g. If Section 8 or other subsidized rents, what are the requirements and obligations of the
owner? _________________________________________________________________
10. If this is a Commercial Building:
a. Type of property (office, industrial, anchored retail, unanchored retail, etc.):
____________________________________
b. How many rentable spaces? _________
c. Total Rentable Square Feet: ______ SF Ocupied: _______ SF _____ %
1. Please attach a tenant/lease summary including any vacant space.
Please show square footage, rent, type of lease, indicate if owner occ. or
vacant, original occupancy date, and lease start/end dates for each unit.
d. How long are the leases? _____________________________________________
e. What expenses do the tenants pay? ____________________________________
f. What type of construction? ___________________________________________
11. If this is a Hotel/Motel, is it operated under a flag (nationally recognized chain)? Yes No
a. If so, which? _________________________________
b. Do you have a STAR report? Yes No
c. What is the average Daily Room Rate (ADR)? $_________
d. How many rooms? __________
e. What extra services are available (i.e., restaurant, spa, convention facilities, etc.)?
__________________________________________________________________

If this is a Refinance:
1. What is the current estimated market value of the property? $______________
a. Calculate Cap Rate: _____%
2. What is the existing loan balance? $_________ Monthly payment? $_________
3. Is this payment Interest Only? Yes No
4. What is the interest rate? ____% Call or due date? ___/___/____
5. Lender name? ___________________________________________
6. Can this loan be prepaid? Yes No
7. What is the prepayment penalty? ____________________________________________
8. When did you buy the property? ___/___/____
9. What was the purchase price? $______________
10. What was the down payment? $______________
11. Was it an exchange or straight purchase? _________________________
12. What is the reason for your request?
_______________________________________________________________________

© C. S. Higdon, Inc., 2007-2009. 7300 W. 110th St., 7th Floor, Overland Park, KS 66210. 888-578-5441, 310-388-4604 Fax
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 30 Minute Commercial Financing Analysis
Questionnaire

If this is a Purchase:
1. What is the purchase price? $_____________
a. Please forward a copy of the purchase agreement.
b. Calculate Cap Rate: _____ %
2. In what physical condition is the property? ____________________________________
3. Please describe any deferred maintenance:
_______________________________________________________________________
4. Estimated amount to fix: $_____________
5. What is the dollar amount of any anticipated repairs or improvements you are going to
immediately make above your down payment? $____________
6. What date does your earnest money go hard? ___/___/____
7. Is there a financing contingency beyond this date? Yes No
8. If yes, by what date must you have a commitment? ___/___/____
9. What is the closing date? ___/___/____
10. Is this an exchange or a straight purchase? Exchange Purchase
11. Why are you buying this property?
______________________________________________________________________

Concerning the Borrower:

1. What is the name of the borrowing entity? ___________________________________
2. What is the entity structure? ________ Formed in what state? ________
3. Is the borrower a single asset entity? Yes No
4. Tell us who owns what percentages of the borrowing entity:
a. ____________ ____% ____________ ____% ___________ ____%
b. ____________ ____% ____________ ____% ___________ ____%
5. Who is the key principal (who signs the closing papers)? _________________________
6. What is the key principal's social security #? _____-___-______
7. What is the key principal's Birth date? ___/___/____
8. What percentage, either directly or indirectly, does the key principal own? ___%
9. Any past credit issues on borrower/key principal we need to be aware of?
________________________________________________________________________
________________________________________________________________________
10. Is the principal or property the subject of a lawsuit? Yes No
11. If so, please describe the circumstances:
________________________________________________________________________
________________________________________________________________________
1. What is the approximate value of the key principal’s liquid assets? $___________
2. How many properties does the key principal own? ____
3. What is their approximate value? $__________
4. What is owed against them? $__________
5. What is the key principal’s gross monthly income? $___________
12. Are any major purchases contemplated in the next 12 months? Yes No
13. Would you like a copy of your credit report? Yes No
14. Would you like a referral to an experienced Realtor or Builder? Yes No

© C. S. Higdon, Inc., 2007-2009. 7300 W. 110th St., 7th Floor, Overland Park, KS 66210. 888-578-5441, 310-388-4604 Fax
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 30 Minute Commercial Financing Analysis
Questionnaire

Concerning the Management:

1. Is there a management company: Yes No
2. If so:
a. What is the name of the management company? __________________________
b. What is the name of the area manager? _________________________________
3. What is the name of the on-site manager? _____________________________________
4. How many years of management experience do you have? ____

Concerning The Loan You Want:

1. How much is your loan request? $______________
a. Calculate Loan to Value: ____%
2. Tell us what terms you would like: Amortization: _____ yrs Due in: _____ yrs
3. Rate requested: ____% Fixed for how long? _____ yrs Variable? _____ yrs
4. Identify in order of priority the following: (1 = most important, 9 = least important)
i. Maximum Loan Dollars/Loan to Value: _____
ii. Lowest Interest Rate: _____
iii. Lowest Payment: _____
iv. Lowest overall financing cost over life of loan: _____
v. Low closing costs/Fees: _____
vi. No Personal Recourse/Guarantee: _____
vii. Long Loan Term: _____
viii. Assumable by future buyers: _____
ix. Ability to pre-pay loan: _____
x. Speed of closing _____
5. What features do you NOT want in your loan? _______________________________
6. When do you want this loan closed?
a. ___ 30 days ___ 45 days ___ 60 days ___ 90 days
b. For 90 days or more: What date? ___/___/____ ___ No urgency
7. Is there a deadline you are under? Yes No
8. Please explain: _________________________________ Deadline date: ___/___/____
9. How long do you plan to keep this property? ___________________________________
10. What is your exit plan:
a. ___ Sell ___ Exchange ___ Hold Indefinitely ___ No definite plan
11. How do you plan to retire this loan?
a. ___ Refinance ___ Sell or Exchange/Have it assumed ___ Fully Amortize
b. ___Payoff in Lump Sum ___ Not Decided
12. What is your most important priority or issue regarding this loan?
________________________________________________________________________
13. What is your age? ____ Your spouse’s age? ____
14. In how many years do you plan to retire? ____
15. How old would you like to be when you retire this loan? ____
16. How old will you be based upon your current mortgage? ____

© C. S. Higdon, Inc., 2007-2009. 7300 W. 110th St., 7th Floor, Overland Park, KS 66210. 888-578-5441, 310-388-4604 Fax
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 30 Minute Commercial Financing Analysis
Questionnaire
Complete the following page 5 below (Owner Occupied Questions) if 25% or more of the
subject property will be occupied by the owner.

Concerning Your Business:

1. Company Name: ______________________________________________________________
2. What is the nature of your business? _______________________________________________
3. What types of products or services do you provide? ___________________________________
4. What is your geographical market area? ____________________________________________
5. Please list your key customers: ___________________________________________________
6. Please list your major competitors:
_____________________________________________________________________________

Miscellaneous Questions:
1. What percentage of the building does your business occupy? ____%
2. Have you or any of your companies ever been involved in bankruptcy or insolvency
proceedings? Yes No
3. Are you or your business involved in any pending or prior lawsuits? Yes No
4. If yes, please provide details on a separate sheet
5. Have you ever received an SBA loan? Yes No If yes, please provide a copy of the SBA Loan
Authorization document and the following:
6. Original Loan Amount: $___________ Date of the loan: ___/___/____
7. Current Balance: $_____________ Current Status: ____________________________

Business Debt Schedule:

Please furnish the following information on all installment debts, contracts, notes, and mortgages payable.
Do not include accounts payable or accrued liabilities.

Original Original Present Interest Maturity Monthly Current/

Creditor Name/Address Security
Amount Date Balance Rate Date Payment Delinquent

Total Monthly
Total Present Balance
Payment

© C. S. Higdon, Inc., 2007-2009. 7300 W. 110th St., 7th Floor, Overland Park, KS 66210. 888-578-5441, 310-388-4604 Fax
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 30 Minute Commercial Financing Analysis
Questionnaire
If this loan involves Construction:
1. Indicate what kind of project this is: Rehabilitation New Construction
2. If a rehab, when was this property built? ___/___/____
a. In what physical condition is the property? ______________________________
b. Please describe any deferred maintenance:
________________________________________________________________
3. If this is new construction:
a. For what is the property zoned? _____________________________________
b. Is it zoned for your intended use? Yes No
c. If not, when will you have city/county approval? ___/___/____
d. When can you obtain permits? ___/___/____
e. What needs to be done to obtain permits?
__________________________________________________________________
__________________________________________________________________
4. What is the total construction budget? $___________
a. How much have you spent so far? $__________
b. Please provide a Line Item Cost Breakdown.
c. Please provide a Sources and Uses of Funds Statement.
5. When can you begin construction? ___/___/____
6. How long will it take you to complete construction? _______ months.
7. Have you done this type of project before? Yes No
a. If “yes, please provide a resumé of past projects and experience.
b. If “no,” have you hired an experienced Contractor? Yes No
c. Please provide a resumé on the Contractor.
8. Will you have other tenants in the property? Yes No
a. If so, are any of the spaces pre-leased? Yes No
b. If so, what percent? ___%
c. What percent are national or credit tenants? ___ %

© C. S. Higdon, Inc., 2007-2009. 7300 W. 110th St., 7th Floor, Overland Park, KS 66210. 888-578-5441, 310-388-4604 Fax
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