escrow loans available
In today's competitive marketplace, many solid deals don't close because buyers come up short on the down payment and/or closing cost requirements. This is the largest single reason causing otherwise good deals to collapse, literally right at the finish line.
This exciting program from ComResInvestments, Alpha Opportunities' finance partner, helps avert this possibility. Details:
Loans from $5,000 to $100,000 per transaction
All 50 states eligible
Residential, land, and commercial deals are okay
Funds are repaid from a pre-signed escrow instruction letter and promissory note from the seller, guaranteeing disbursement of principal and points from the net proceeds after closing.
At settlement, in accordance with the promissory note executed by seller, the funds borrowed by the seller from our lender are returned to the lender upon settlement. These funds are deducted from the seller's proceeds and appear on the 500 series of seller's side. It appears as “PAY OFF NOTE TO 'OUR LENDER.' "
In other words, the seller is simply paying off a lien, evidenced by a promissory note at closing, just like any other normal encumbrance. This means that the seller's net cash received will be less than the value to accommodate repayment of our loan at closing.
If for any reason the deal does not close, the funds simply are returned to our lender, the promissory note the seller signed is forgiven, and there are no further obligations to any party involved in the transaction.
with "Escrow Loans" in the subject line and tell us about your requirements and let's see if an escrow loan offers you the safeguard your deal needs.