This paper presents practical suggestions for dealing with mortgage lenders to help lawyers estimate how much leverage they have for negotiating a better deal for their clients. The author discusses the following topics: negotiable elements in commitment letters, why lenders need commitment fees, estoppel certificate requirements, due diligence requests, mortgages and related security, third party reports and conditions precedent to funding, and borrower’s solicitor opinions. Precedents are included.

This paper was presented at the Commercial Real Estate Transactions program in January, 2013.