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[+] E & O Info: Thanks Robert! - Scott Olsen/NH (3 replies)
9/11/2009 10:47:44 AM (3819 views)

[+] County Clerk Fees - Ellen Maher/MI (14 replies)
9/11/2009 9:51:20 AM (3742 views)

[+] Unied States Title Corp Knoxville TN - Louise Jackson/SC (6 replies)
9/10/2009 9:12:43 AM (4786 views)

[+] MSNi - Constance Foye/VA (3 replies)
9/9/2009 9:04:37 PM (4636 views)

[+] Pro-Search, Inc. - Susan McKee/WV (1 reply)
9/9/2009 10:51:23 AM (4341 views)


Real Title Services


[+] ALTA Policy Licensing Fees - Cheryl Hartzman/PA (5 replies)
9/4/2009 2:41:01 PM (5518 views)

J&L in TX - LAWANDA  MCMILLIAN/AR
9/3/2009 9:34:26 PM (3109 views)

[+] Accepting Credit Cards - Dan Zook/NY (5 replies)
9/3/2009 1:07:29 PM (3693 views)

[-] Experience closing short sales w/transactional funding? - Eric Michaels/IL (21 replies)
9/3/2009 1:03:46 AM (3890 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/10/2009 3:53:48 PM (4602 views)
Re: Experience closing short sales w/transactional funding? - CHARLENE  PERRY/MD
9/15/2009 2:24:40 PM (4620 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/17/2009 1:54:39 PM (5969 views)

No.  Transactional Funding occurs because you can't do that anymore.  No more "simultaneous" closings. 

If an investor is doing a flip where he is buying the property on a short sale or REO, and he already has another buyer lined up who wants to buy the property,  (Commonly called A to B to C transaction in the short sale world.)  he has to do back to back closings.  2 in a row instead of 1 simultaneous and each closing has to stand on it's own.  Money from the B-C transaction cannot fund the A-B transaction.  Many investors (B) need cash to fund the first transaction.  This is where Transactional Funders come in.  They fund the A-B transaction on behalf of the investor.  This is typically a 1 day loan and the fee is typically 1-2%.

I do want to be a Transactional Lender.  My understanding is that the contract is actually between the Trans Lender and the Title Co. handling both transactions.

  The agreement is that this money is used to fund the A-B and then paid back plus fee in the B-C transaction.  If the B-C transaction falls apart for some reason, the title company nullifies the A-B.

My question is just about the details of this contract between the Title Co and the Trans Lender. How is this done exactly?  Is it a simple side contract or is it something much more complex?

 

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Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/17/2009 4:24:02 PM (4523 views)
Re: Experience closing short sales w/transactional funding? - CHARLENE  PERRY/MD
9/17/2009 7:58:09 PM (4616 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/18/2009 1:18:49 AM (4635 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/18/2009 9:27:37 AM (4447 views)
Re: Experience closing short sales w/transactional funding? - george Hubka/MI
9/18/2009 4:59:39 PM (4463 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/18/2009 6:51:17 PM (4420 views)
Re: Experience closing short sales w/transactional funding? - george Hubka/MI
9/18/2009 8:57:45 PM (4494 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/19/2009 11:59:07 PM (4458 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/21/2009 12:11:37 PM (4507 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/21/2009 1:11:33 PM (4561 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/21/2009 1:08:37 PM (4537 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/21/2009 12:35:50 PM (4422 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/18/2009 1:24:49 AM (4487 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/21/2009 1:50:13 PM (4551 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/21/2009 2:08:51 PM (4731 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/22/2009 12:30:13 PM (4771 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/22/2009 1:18:21 PM (4570 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
10/12/2009 12:28:55 PM (4631 views)

[+] selling searches - edward hartung/OH (8 replies)
8/31/2009 11:04:12 PM (4126 views)

new client, trust title - WAYNE QUICK/NC
8/31/2009 6:54:42 PM (3645 views)

[+] Cleary Title - Robin Ramberg/MI (1 reply)
8/30/2009 8:32:56 PM (4889 views)

[+] Abstractor Fees - Tena Grice/TX (4 replies)
8/28/2009 11:40:47 PM (7062 views)

SOT maintenance notice - Slade Smith/OH
8/28/2009 1:45:08 PM (3252 views)

[+] Abstractor Watchdog - Nils Nelson/ME (3 replies)
8/27/2009 6:32:24 PM (4377 views)


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