|Available Financing||$10,000 – $3,000,000|
|Loan Term||1-2 days, typical of Transaction Funding|
|Time to Approval/Funding||1 day|
|Fees||Under $500K: 1% of loan amount or $1,000, whichever is greater. Over $500K: Inquire.|
|Qualifications||No credit report required
No down payment required
Acceptable closing agent
Must have an end buyer to complete transaction
Investor/Buyer B signs agreement to buy property from Seller A for $300,000.
Buyer C signs an agreement to purchase the property from Investor B for $330,000, typically closing on the same day Investor B is buying from Seller A.
The closing agent confirms that its office has received Buyer C’s funds for C’s purchase from Investor B. Closing agent then gives EquityMax transactional funding approval.
EquityMax wires total of funds needed for B’s purchase. Investor B uses funds to buy property from Seller A. Shortly after, Investor B sells the property to Buyer C.
Investor B uses the money from the sale to pay back the lender and keeps the remaining money as profit.