Man, that sounds only slightly less boring than watching paint dry.
But if you are trying to buy a property – whether a short sale, probate, or whatever – and sell to an end buyer on the same day, then listen up. Ages ago, title companies would allow you to contract a property, find a buyer, and buy the property from the original seller using the end buyer’s funds to fund your purchase from the seller.
But everything has changed in the world of real estate investing. And simultaneous closes are no exception. Now the title companies are requiring the following:
Seller A sells to you, person B. You must have your own funds to close or the title companies won’t insure title.
Then you, person B, can turn around and seller to end buyer C, and of course end buyer C is typically using conventional owner occupied financing.
We can fund that with transactional funding, a one day source of funds to satisfy the title companies. It costs less than typical hard money, and we provide 100% of the amount needed if you meet the criteria. The requirements are pretty strict, but if it works for you, it’s a solution to a problem. Call us.
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