We are pleased to announce that our sister company REI Funding www. REIFunding.com is now offering Extended Transactional Funding for up to 12 Months! This will accommodate those situations where you get a short sale approved, yet it comes with a requirement that you hold the property for 30 days. Let's say you get an approval for a short sale on Mr. Smith's house at 123 Main Street for $100,000.
You find a buyer, Ms. Jones, who will pay $120,000 for that house. In order for you to get the profit between the $100,000 that the bank approved and the $120,000 that your buyer agrees to pay, you must first close and pay for the house from the lender. In this transaction, Mr. Smith is party "A". You are party "B". Ms. Jones is party "C". We provide the $100,000 to you, party "B" in the purchase from Mr. Smith.
This is the A to B part of the transaction. You then sell the house to Ms. Jones in a second closing that same day. This is the B to C part of the transaction. Once the B to C part of the transaction is complete, the funds you had to close the first transaction can be re-paid back to our company that provided them to you.
You find a buyer, Ms. Jones, who will pay $120,000 for that house. In order for you to get the profit between the $100,000 that the bank approved and the $120,000 that your buyer agrees to pay, you must first close and pay for the house from the lender. In this transaction, Mr. Smith is party "A". You are party "B". Ms. Jones is party "C". We provide the $100,000 to you, party "B" in the purchase from Mr. Smith.
This is the A to B part of the transaction. You then sell the house to Ms. Jones in a second closing that same day. This is the B to C part of the transaction. Once the B to C part of the transaction is complete, the funds you had to close the first transaction can be re-paid back to our company that provided them to you.
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