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Single-Day Acquisition Funds for Double Escrow Transactions

• Transactions Are Perishable Items
• Opportunities Don’t Wait
• There Are Few Second Chances (Specially In Real Estate)
• We Fund Your Transactions NOW

Funding Program Description

We fund the acquisition side of double escrow transactions. Funding provided for 24 hours maximum, from one banking day to the next. No holding over any period of time. We provide escrow instructions specially designed for this type of closing.

Background:

A true double escrow transaction has two components: Acquisition and Re-Sale. Proper disclosures are required.

• Acquisition: Investor buys the property (with re-sale funds)
• Re-Sale: The investor sells the property to the end user (for more than the acquisition cost)

As of the beginning of 2008, title companies have become increasingly less comfortable with flips. There is nothing wrong with double escrows. However, increased risks, additional lender escrow instructions and other factors, are making this type of closings more challenging. Funding double escrow transactions using re-sale profits still happens, but it is less easy. Our double escrow alternative funding is designed to help you overcome these issues and keep making money. We can fund up to 3′000,000, so basically everything is within your range.

Funding Program Outline

Our double escrow alternative funding is designed for you to succeed. All you need to do is be knowledgeable and bring a ready to close transaction. All costs are payable at closing. This is ZERO DOWN investment at its best.

Funding Approval Response Time:

• Usually within 24 hours
• See Transaction Submission (below)

Cost Structure:

• Typical Funding Fee: 2.5 Points
• Typical Escrow Fee: $500
• Minimum Fee: $3000
• Minimum Loan: $100K or use minimu fee
• Other Costs: NOT Common – Up-front estimate provided
• Cost Payment: All due closing and payable from transaction profits proceeds

Requirements:

• READY TO CLOSE transaction
• Evident Profit Spread
• Sufficient time (see time frames)
• Be knowledgeable

Time Frames:

• Typical Time Frame: 72 hours
• Ideal Time Frame: Submit Monday. Close Friday.
• Better Yet: Have more time and plenty of fall back dates

Provide all the acquisition, re-sale and supporting documents.

Acquisition Documents:

• Purchase and sell agreement
• Preliminary settlement statements (HUD1 for residential short sales)
• Settlement letters (short sale approval)
• Payoff statements
• Any releases

Re-Sale Documents:

• Purchase and sell agreement
• Preliminary settlement statements (HUD1 for residential)
• End buyer proof of funding. Better if it is a clear-to-close approval.
  

Download Submission Form

$25 refundabale fee applies

 

Send request for funding pre-approval letter via email to Oscar Morante at oscar@bestshortsales.com

Information Needed:

• Investor name
• Company Name
• Address
• Email
• Fax
• Short transaction explanation paragraph (so I can better help you)
• Subject property address
• Request "Blanket Letter" if you make multiple offers or do not yet have a defined target property

Download Submission Form


 

Transaction Submission