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We provide transactional funding for commercial & residential:
- Earnest Money Deposits
- Double Closings
- Seller Carry-backs
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Fees & Requirements
EMD for Wholesale
Fundable Amount:
Up to $100k
Timeline:
60 days maximum with an extension
Upfront Fee:
$500 or 1% of the required amount (whichever is greater), credited towards the 40% return. For durations over 30 days, the fee doubles.
Return:
40% for 30 days or less. Increases if past 30 days. Minimum return is $1,500.
Requirements (in order):
1. Mutual release signed by seller and buyer
2. EMD loan agreement signed
3. Non-refundable upfront fee paid
4. Disbursement agreement signed by the title company
*We DO NOT provide Proof of Funds for EMDs.
Only double closings.
EMD for End Buyer
Fundable Amount:
Up to $100k
Timeline:
60 days maximum with an extension
Upfront Fee:
$500 or 1% of the required amount (whichever is greater), credited towards the 40% return. For durations over 30 days, the fee doubles.
Return:
40% for 30 days or less. Increases if past 30 days. Minimum return is $1,500.
Requirements (in order):
1. Mutual release signed by seller and buyer
2. 3 HUDs showing previous experience
3. EMD loan agreement signed
4. Non-refundable upfront fee paid
5. Disbursement agreement signed by the title company
*We DO NOT fund EMDs for properties that will be owner occupied. Our funding is ONLY for investment properties.
Double Close
Fundable Amount:
Up to $100M
Timeline:
Same day closing
Upfront Fee:
$0
Return:
1.5% up to $1M
2.5% up to $5M
3% above $5M
Minimum return is $1,500.
(+1% if you need a double close with less than a week notice)
Requirements (in order):
1. BC funds must be receipted first
2. All other signing and paperwork complete before funding
*If you need Proof of Funds to get the deal under contract for a double close, reference the FAQs below.
Seller Carry-back
Fundable Amount:
Up to $1M
Timeline:
Same day closing.
Upfront Fee:
Will charge for early POF in account & extra actions
Return:
2.5% if given at least a week notice. Will increase if more work is required on our end. Minimum return is $2,500.
Requirements:
1. Relay is used for any separate bank accounts
2. We will not sign onto anyone’s operating agreements
3. The lender is fully aware of who we are and how the transaction will work
4. Lender funds are in escrow first
Frequently Asked Questions
Questions?
Ask SowerGPT or browse FAQs.
What qualifies as a double closing?
A double closing is a real estate transaction method where two back-to-back property sales occur on the same day, involving three parties: the original seller, the investor (middleman), and the end buyer.
Here's how it works:
First Transaction: The investor agrees to purchase the property from the original seller.
Second Transaction: The investor simultaneously sells the property to the end buyer at a higher price.
During a double closing, the investor typically uses the funds from the end buyer to complete the purchase from the original seller. This allows the investor to profit from the difference in sale prices without needing to use their own funds for an extended period. Double closings are often used in real estate wholesaling and transactional funding, allowing investors to efficiently facilitate deals and earn profits by connecting motivated sellers with interested buyers.
Can you provide proof of funds?
Yes, but we only provide proof of funds for double closes in which case our funds would be used to purchase the property.
To receive proof of funds, follow the steps below:
1. Go to "Submit Funding Request" and walk through the steps to submit a request for a double close.
2. In the notes section, state that the request is being submitted for a POF.
3. Use the PSA that you will be submitting to the agent/seller with all possible info filled out.
4. Attach the A-B PSA as both the A-B and B-C since the form will require both.
What qualifies as a seller carry-back (Stack Method)?
A seller carry-back deal involves a hard money or DSCR loan being used to purchase a property. The remaining amount needed for purchase is funded by the seller via a seller carry-back. This amount is typically equal to the down-payment and closing costs.
If you have a deal like this, the lender will likely require you to bring the down-payment to close and then be reimbursed by the seller carry-back. IF the lender approves, we can fund that down-payment for you to close the deal.
Do you fund commercial deals?
Yes fund both commercial and residential.
How quickly can we get our deal funded?
While we typically require a 48 hour notice to fund a deal, we have processed funding in as little as 5 minutes. If you have a deal, your best bet is to submit it as soon as possible so we can review it and get the process started.
What happens if the deal doesn't close?
If your deal does not close, your only cost would be the upfront fee since our transaction coordinators have already worked on the deal for you.
Which states do you fund in?
We fund in all 50 states.
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