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What is double close /transactional funding?
It is a short-term funding provided to wholesalers who purchase and quickly re-sell a property , usually on the same day. The property seller is known as “Party A, the wholesaler is “Party B”, the end buyer is “Party C”. These deals are also called “A-B -B-C” transactions.
When is Double Close Funding needed?

Double closing is used for 2 reasons:

  1. The contract is NOT ASSIGNABLE to a third party. Examples: properties owned by government entities such as HUD, FHA, Fannie Mae. Bank owned properties.
  2. The wholesaler want to maximize the markup – the end buyer may not purchase a property if the assignment fee is too high. When using double close funding, we do not have to disclose your contract details to the end buyer.
Are there requirements for funding?
Yes, there are three:
  1. Both transaction close/fund on the same day.
  2. The same title company is used for both transaction close/fund.
  3. Title companies have to be approved by us.
What are the fees? (Double Close)
Deals from $100,000 to $1 million (over $1 million will be on a case-by case). 1% of the A-B transaction amount.
Do I need good credit to obtain the funding?
No. We do not run credit checks or require bank statements/tax returns. There are no personal financial requirements.
Do you provide proof of funds letters? (Double Close)
Yes. We can provide proof of funds letter. Contact us.
What is short term funding?
Short term funding is for 1-90 days only. (Exceptions will be made on a case-by case for extensions). This funding is for unexpected needs to fill a temporary gap such as investor funds coming in late, unforseen delay in other financing approvals/funding. a soon to close contract. Will fund all property types except for land.
What are the requirements for short term funding?
A signed purchase/sale agreement. A transaction closing date within 90days. What will be used for collateral ? (1st position, 2nd position or cross collateral?)
What amount will be funded? (Short Term funding)
Usually up to 75% LTV. $100,000 to $1 million. Over $1m on a case-by-case basis.