Transactional Funding is a 1 day Bridge Loan that facilitates short sale and flip transactions allowing "you" to simultaneously close to your end-buyer. Title companies do not want to conduct simultaneous closings any longer because of the intense scrutiny from State and Federal regulators. They require that the first closing “stand alone”, by the investor bringing their own funds to the closing table. So what do you do if you don’t have the cash? Hard Money?Not a great source! They normally charge in upwards to 8 points or more on this type of transaction.
The solution is transactional funding! Our process is fast and simple:
We Are Funding The "A” to “B” Transaction. This Is An Independent, Stand Alone Transaction That Must |
Transactional Funding | ||
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When you are flipping short sales or REOs you are going to need us to fund your deals.
Given that, we need to make sure you have things set up properly on your contracts.
In order for us to fund a deal for you when you need funds to flip a home you must purchase the home in some form of entity, such as a trust, LLC, or corporation.
So make sure you have an entity structured for your deals.
What we need from you:
- Amount of money you need to borrow
- Proof of your control or interest in the property: memorandum of trusts, notice of option or deed
- A to B Contract: first closing (where you are the buyer)
- B to C Contract: second closing (where you are the seller)
- Copy of the Short Sale Approval Acceptance Letter
- Closing Location Closing Date
To speed along the process, you can submit a funding request form, and e-mail your paperwork (items listed above) to info@jed3.com
What does Jed3 charge?
Jed3’s fees are simple and affordable:
| $1,800flat fee |
| 1.75% + no application fee |
| 2.50% +$395.00 processing fee |
| 4.50% +$395.00 processing fee |
| 5.50% +0 application fee |
All payments are posted on Hud 1 and are paid at closing.
