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[+] Accepting Credit Cards - Dan Zook/NY (5 replies)
9/3/2009 1:07:29 PM (3598 views)

[-] Experience closing short sales w/transactional funding? - Eric Michaels/IL (21 replies)
9/3/2009 1:03:46 AM (3814 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/10/2009 3:53:48 PM (4393 views)
Re: Experience closing short sales w/transactional funding? - CHARLENE  PERRY/MD
9/15/2009 2:24:40 PM (4376 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/17/2009 1:54:39 PM (5730 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 (4288 views)
Re: Experience closing short sales w/transactional funding? - CHARLENE  PERRY/MD
9/17/2009 7:58:09 PM (4383 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/18/2009 1:18:49 AM (4452 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/18/2009 9:27:37 AM (4221 views)
Re: Experience closing short sales w/transactional funding? - george Hubka/MI
9/18/2009 4:59:39 PM (4282 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/18/2009 6:51:17 PM (4205 views)
Re: Experience closing short sales w/transactional funding? - george Hubka/MI
9/18/2009 8:57:45 PM (4304 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/19/2009 11:59:07 PM (4233 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/21/2009 12:11:37 PM (4289 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/21/2009 1:11:33 PM (4328 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/21/2009 1:08:37 PM (4305 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/21/2009 12:35:50 PM (4209 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/18/2009 1:24:49 AM (4254 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
9/21/2009 1:50:13 PM (4336 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/21/2009 2:08:51 PM (4506 views)
Re: Experience closing short sales w/transactional funding? - Eric Michaels/IL
9/22/2009 12:30:13 PM (4542 views)
Re: Experience closing short sales w/transactional funding? - Robert Franco/OH
9/22/2009 1:18:21 PM (4351 views)
Re: Experience closing short sales w/transactional funding? - Clanci Nelson/OH
10/12/2009 12:28:55 PM (4410 views)

[+] selling searches - edward hartung/OH (8 replies)
8/31/2009 11:04:12 PM (4058 views)

new client, trust title - WAYNE QUICK/NC
8/31/2009 6:54:42 PM (3565 views)

[+] Cleary Title - Robin Ramberg/MI (1 reply)
8/30/2009 8:32:56 PM (4809 views)




[+] Abstractor Fees - Tena Grice/TX (4 replies)
8/28/2009 11:40:47 PM (6996 views)

SOT maintenance notice - Slade Smith/OH
8/28/2009 1:45:08 PM (3208 views)

[+] Abstractor Watchdog - Nils Nelson/ME (3 replies)
8/27/2009 6:32:24 PM (4277 views)

[+] Service 1st Valuation and Settlement Services - VIVIAN SLYKER/OH (1 reply)
8/25/2009 3:16:23 PM (4413 views)

[+] Payment - Jana Urban-Buzek/OH (1 reply)
8/25/2009 12:15:50 PM (4065 views)

[+] Database Designed for Abstracting Companies - James Baker/AL (26 replies)
8/22/2009 10:18:57 PM (4309 views)

[+] Fico Scores - Jack Johanson/PA (2 replies)
8/21/2009 3:29:25 PM (3735 views)

[+] Mortgage Fraud the new target! - David Chisolm/MS (4 replies)
8/20/2009 2:51:56 PM (4878 views)

[+] A big 'thank you' to the OAITA! - Robert Franco/OH (3 replies)
8/20/2009 9:58:47 AM (4961 views)

[+] A.I.T.F. Retrieval Services - Ray Glowniak/CA (8 replies)
8/19/2009 2:10:55 PM (5308 views)


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