Funding Terms
Last updated November 8, 2022
Special circumstances refer to situations in the borrowing or selling process that are not typical for transactional funding. These might include the borrower not wanting to sign necessary documents, changes in the funding amount at the last minute, the end-buyer being late with their payment, the end-buyer not signing required closing documents, any personal or business connection between the investor-buyer and the end-buyer, or any other unusual situations as decided by the lender.
The Transactional Funding Closing Requirements will be sent to the Closing Agent or Escrow officer only after all documents and our examination is completed and approved to start the transaction.
For our services, a non-refundable upfront fee of 5% or $300 (minimum) is required to cover the Transactional Coordinator's services. This fee serves as a deposit, assuring the event in which the deal does not successfully close. Please be aware that this upfront fee is separate from any other fee or costs associated with the transaction lending fee.
If the funds will stay in the Closing Agent’s / Escrow account due to the closing extension requested by the buyer, the investor/buyer can be charged a delaying fee of $100 per day until the transaction closes.
**$50 dollars wire transfer fee can be requested to be paid upfront or can be added on the transactional funding fee amount determined into the JV agreement. We accept fee or payments only through Domestic Wire Transfers. No checks, cashier’s checks, money orders, cash, or other paper payments are allowed.
All closing documents, including the Transactional Funding Closing Requirements, the JV agreement, and the remaining transactional funding documents required, must be approved and signed by all parties with the Closing Agent at minimum 24 hours before delivering the transactional funding.
For transactional funding requests of $20.000 or more, the lender may reserve the right to request fund protection as security for the loan in the form of collaterals in exchange of a lower interest rate.
