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[+] Condo Owner finds out he's been living in and renovating wrong unit - Edward Huguenin/SC (3 replies)
9/13/2009 11:12:30 PM (5196 views)

[+] E & O Info: Thanks Robert! - Scott Olsen/NH (3 replies)
9/11/2009 10:47:44 AM (3824 views)

[+] County Clerk Fees - Ellen Maher/MI (14 replies)
9/11/2009 9:51:20 AM (3743 views)

[+] Unied States Title Corp Knoxville TN - Louise Jackson/SC (6 replies)
9/10/2009 9:12:43 AM (4790 views)

[+] MSNi - Constance Foye/VA (3 replies)
9/9/2009 9:04:37 PM (4640 views)


Real Title Services


[+] Pro-Search, Inc. - Susan McKee/WV (1 reply)
9/9/2009 10:51:23 AM (4342 views)

[+] ALTA Policy Licensing Fees - Cheryl Hartzman/PA (5 replies)
9/4/2009 2:41:01 PM (5519 views)

J&L in TX - LAWANDA  MCMILLIAN/AR
9/3/2009 9:34:26 PM (3112 views)

[+] Accepting Credit Cards - Dan Zook/NY (5 replies)
9/3/2009 1:07:29 PM (3694 views)

[-] Experience closing short sales w/transactional funding? - Eric Michaels/IL (21 replies)
9/3/2009 1:03:46 AM (3891 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 (4621 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/17/2009 1:54:39 PM (5972 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 (4621 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/18/2009 1:18:49 AM (4637 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/18/2009 9:27:37 AM (4448 views)
Re: Experience closing short sales w/transactional funding? - george Hubka/MI
9/18/2009 4:59:39 PM (4466 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 (4496 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 (4509 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/21/2009 1:11:33 PM (4563 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/21/2009 1:08:37 PM (4538 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/21/2009 12:35:50 PM (4428 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 (4554 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/21/2009 2:08:51 PM (4733 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/22/2009 12:30:13 PM (4775 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/22/2009 1:18:21 PM (4572 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
10/12/2009 12:28:55 PM (4632 views)

[+] selling searches - edward hartung/OH (8 replies)
8/31/2009 11:04:12 PM (4128 views)

new client, trust title - WAYNE QUICK/NC
8/31/2009 6:54:42 PM (3648 views)

[+] Cleary Title - Robin Ramberg/MI (1 reply)
8/30/2009 8:32:56 PM (4892 views)

[+] Abstractor Fees - Tena Grice/TX (4 replies)
8/28/2009 11:40:47 PM (7064 views)

SOT maintenance notice - Slade Smith/OH
8/28/2009 1:45:08 PM (3255 views)


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