What we need from the title company or closing attorney.
Brittco wires the investor’s A-B purchase and expects to be paid off from the B-C resale. Same-day payoff is the 1% fee. Payoff within 7 calendar days is the 2% fee. We close with any title company or closing attorney.
Brittco Capital, Inc. is the transactional lender on the A-B purchase. We wire that purchase and expect to be paid off from the B-C resale. This page is for the closer on the file, in title-company states and in attorney-closing states.
Which sequence does Brittco fund?
There are two contracts. We fund the investor’s purchase. The investor’s resale pays us off. Same-day payoff uses the 1% fee. Payoff within 7 calendar days uses the 2% fee. We do not fund the end buyer’s purchase as a consumer mortgage.
What should the closer confirm?
- You can insure or close a double close on this property.
- You have both contracts, or you know which one is still outstanding.
- You can receive our wire and show it on the A-B disbursement.
- You can pay our loan off from the B-C proceeds, in the order your underwriter requires.
- You will send wiring instructions and a draft settlement statement before the day of closing.
Does Brittco require a title company or an attorney?
We work with the office that is actually closing the file. In many states that is a title company. In others it is a closing attorney, sometimes with a title company beside them. Use the custom you already run. If the state has a Brittco page, it describes that custom in plain language and asks the borrower to confirm it with you.
What if the end buyer is using a loan?
Tell us early. The end buyer’s lender may limit a double close, require a longer calendar, or refuse the sequence. We will not ask you to ignore that lender’s instructions.
How does a closer contact Brittco?
Email the closing desk at john@brittcocapital.com. Put the file name and the closing date in the subject.
Borrowers should still use Request Funding so the property state is checked before a file is opened.