A loan assumption transaction is a rare deal with complex math that can cause even seasoned professionals anxiety when it comes to getting the closing statement right. The secret to confronting that anxiety is a simple matter of knowing what the numbers represent, according to real estate attorney Bruce Buckley. In this new Law360 article (subscription required), Buckley draws upon his 30 years of experience to provide tips for managing the math word problems posed by these deals. The article tackles many of the critical components, from contract provisions to escrows for taxes, insurance and capital improvements, and is a must-read for anyone involved in closing a loan assumption transaction.
Bruce Buckley is a member of Womble Carlyle’s Real Estate Development Practice Group and is based in the firm’s Charlotte office. He represents real estate developers, lenders, tenants and businesses in commercial real estate transactions as well as issues involving commercial real estate development projects and general corporate matters.