hard money in Atlanta
Transactional Funding-Frequently Asked Questions
Q. Can you provide me with a Proof of Funds Letter?
A. Yes. Simply contact our office and a representative will be happy to assist you. There is no charge for this service.We can also provide a Hard Proof of Funds for a fee if required by your selling bank.
Q. What about closing costs? Will you fund closing costs for me?
A. Yes. We provide 100% of the funding of your real estate transaction, and that includes all closing costs for the 1st transaction (the A to B transaction).
Q. Do you require any credit checks or appraisals?
A. No. We fund based on you having a buyer and are not concerned with appraisals, credit checks, income verification, or down payments.
Q. Can you fund REO and Short-sale transactions?
A. Of course. We can fund any type of back-to-back closing including FSBO's and any residential or commercial wholesale transaction.
Q. What if my Sale transaction does not close?
A. Not a problem. We pride ourselves in our "No-Close No-Pay" policy. and will not hold you liable for any fees. We strongly believe in our service and are dedicated to building long term relationships. We trust that you will utilize usfor your future transactions.
Q. Can I use my own title company?
A. Yes. We suggest you make sure they can conduct back-to-back closings.
Q. Do you have a title company that you prefer?
A. Yes, but you can use yours or ours. We encourage using our title company because they are familiar with our process and will streamline your closing.
Q. Do you have a minimum or maximum amount you can fund?
A. We do not have any limits. However fundings over $1 million will have special consideration.
Q. Can I use transactional funding program as a hard money or rehab loan?
A. No. We recommend that you contact our office to discuss a “Hard Money” or Rehab Loan… Transactional funding is utilized for “Back-to-Back” transactions, or for extended holding periods of up to 90 days only.
Our Simple Transactional Funding Guidelines
*Must have an “Exit” Buyer in place (and the transaction must make financial sense).
*No Bankruptcy in the last 12 Months (Not Discharged)
*Borrower must not have any Federal or State Tax liens (We can close in the name of a TRUST set up by us only, a set-up fee of $1,950 will be assessed)
*No Business Tax Liens
*No Foreclosure in the last 6 months
*Borrower must have at least $3,500 in liquid (spendable) cash in bank account so Must be verified, NOT sourced or seasoned
*Be able to prove US Citizenship with a Valid Social Security Number
*Borrower must be able to set up a legal Corporation within a 60 day period.
It’s Just That Simple!!!