Double Close Funding:Funding for the first side of a double close…ALL 50 STATES!
Up to $300mm
4 points with 10% cash participation
5 points with 5% cash participation
6 points + for 1%
MUST HAVE AN EXIT STRATEGY
Verification of Deposit
for Commercial Financing:
Verifying funds also has its own niche of uses. This product is becoming overwhelmingly popular in the investment world. Some banks will require the use of this product in order for them finance a deal. The problem these days is that most investors have so much money tied up in a single deal with appraisals, inspections, etc. they can be put into a position that they won’t see any of their money back until the closing. This bridge type of product can be a necessity to achieving success in this business.
VOD – 5 pts., 24 hour escrow
Escrow Services
This is the most creative of all of our products combined. The need for this service is becoming overly popular with the large commercial projects. Developments and construction services need to have money to be able to achieve success in receiving financing for the larger deals.
Some banks may require their attorneys hold escrow. In most cases that has the possibility of working out for you. We would prefer to hold hard escrow ourselves because both ways will achieve the same result. This product has the same points at close of escrow.
At close of escrow does not mean when the deal eventually closes. Close of escrow means – the day we escrow the dollar amount needed you must have already escrowed 10% of the amount needed. We require the client to escrow 10% of the amount needed before we complete the transactional requirements. Once, we have verified the funds in our escrow, we will then escrow the funds required for the transaction.
Once the close of escrow is complete we will then pull out the upfront fees.
You must understand that our money is pulled out of our pool of funds. All escrow agreements will state the same verbiage: the next 10% payment will be paid 28 days later or we will close escrow on the 30th day.
We can verify funds in escrow up to $10 MM in funds per 30 days with additional 30 day option.
Starting at: 10 points
Must provide 5 points in disappointment fee
Proof of Funds
This product has a wide range of uses. We have successfully conducted POFs for hundreds of clients trying to be creative in the real estate industry.
Some uses you may be familiar with:
- Achieving financing from a lender
- All banks selling off tapes, packages, tranches, whichever verbiage you may understand
- All banks selling off single family investment properties that are in foreclosures
As you can see, this product has many uses that are valuable. The fees are 2 pts but can be negotiated into the deal you are trying to do.