 This due diligence process includes the preparation of a property appraisal by an independent professional appraiser and, frequently, personal meetings with the borrower and personal inspections of the property by the lenders.Following the completion of the preparation and compilation of necessary documentation, the loan proceeds are transferred to the borrower.After a brief pause in financing activities, the borrower then turns his attention to arranging permanent financing to replace the higher cost bridge loan he is committed to.