Transactional Funding FAQ
What Types of Transactions Can You Fund?
We fund any type of transaction that deals with back to back closings. This would include short sales, reo’s, bulk reo’s, fsbo’s, commercial, probate and even land. Although this is short term, we do provide extended term transactional funding up to 30 days.
What Are The Requirements In Order To Get Funding?
First you will need to fill out a funding request form. Then we need a copy of your id, Articles of Organization (if purchased as a business), A to B and B to C purchase agreements and HUD’s, Arms length affidavit, Preliminary title report, short sale acceptance letter (if it’s a short sale), and escrow receipt. We do not care about credit or income.
Can I Use Any Title Company or Attorney I Want?
Yes. However, it is important that the “A to B” and “B to C” transactions are BOTH closed by the same title company or attorney. You must let the closing agent or attorney know that this will be a back to back closing. Your closing agent or attorney must be familiar with back to back closings and is ok handling both sides of the “A to B” and “B to C” transactions. Prior to the closing date, we will provide instructions as to how the closing should take place in perspective of using our funds. If they have questions, they can call us prior to closing.
Do You Provide Proof of Funds letters?
Yes we do. At any time you can request a proof of funds letter.
What if I need a Verification of Deposit (VOD)?
No Problem. Just tell us where you want us to send it and we’ll send it.
Do I Need To Pay My Closing Costs?
No. We actually fund the entire deal which includes all the closing costs so that way you don’t need to come up with any money.
Can I Use a Company To Purchase Property?
Yes. In fact, most prefer to use a legal entity.
Do You Fund Nationwide?
Yes. We can fund deals in all 50 states. If you are a foreign investor, we can fund your deals too as long as they are in the U.S.
How Soon Can I Get Funding?
Typically we tell our clients we need 4-5 days. However, if we have all the paperwork, we can fund a lot faster if necessary. If you need extended term funding, we like to have at least 5 days.
Is There A Minimum Or Maximum You Will Fund?
There is no minimum amount that we will fund. We can fund up to $600,000.
What Are Your Same Day Funding Fee’s To Use Your Funds?
$0. Watch our video and we explain why we don’t charge fees to fund your deals. If you are looking for extended term transactional funding which is basically anything 4 – 30 days, we will have to work that out.
Are There Any Other Fees I need to be aware of?
We charge a one-time upfront fee per year to access our funds and everything along with it.