1st meeting with banker upon acceptance of offer

[Nir]

Hello, I`m meeting my banker tomorrow upon acceptance by the seller today of an offer to purchase. The presentation/information needed for review by the bank has already been prepared.

What do you recommend I foucs on during the meeting (2-3 most important topics to disucss)? I know it`s a basic question, it`s just there are so many things I can think of to disucss related to the mortgage, I would appreciate any tip/specific questions to ask so the agenda is more organized and I am more focussed..

THANKS.

 

[JeffSmith]

Your questions should be based on what your investment goals and priorities are for the property. Long term or short term hold. Cash flow. and don`t forget the donuts.

 

[MikeMcCrae]

Ask him how many properties his institution is prepared to lend on. Does he have any advise on how to structure this and future deals? ie. with or with out spouse, incorporate or not etc. How long has he been at that bank and when does he expect to get transferred. That will get you started.

 

[RobMacdonald]

What you need to be sure you do, is have all your documentation ready and available so you look professional and prepared. You need to indicate to the bank what your long term goals are. Make it extremely clear that this will be the first of several purchases and ask how the approval on this mortgage will affect your subsequent purchase. If the banker is not concerend with your 5 year plan, then I recommend you look for another broker or banker.

Good luck!