Can Brittco fund a flip or a double close in Maine?
Yes. In Maine, Brittco funds the purchase in a double close, a fix and flip with rehab draws, and a short-term loan on investment property.
Brittco Capital, Inc. funds the A-B purchase so you can resell in Maine. Same-day is 1%. A resale within 7 calendar days is 2%. Fix and flip loans and short-term private money are priced with the property.
Which loans are available in Maine?
In Maine, three business-purpose loans cover investment property. Transactional funding pays for the purchase in a double close. A fix and flip loan covers the purchase and the rehab. A private money or bridge loan covers a short hold until a sale or a refinance.
Transactional funding ·Fix and flip loans ·Private money and bridge loans
How does a closing get funded in Maine?
Maine closings are commonly handled by attorneys. Ask the closing attorney whether the office will accept transactional funding on the purchase and a payoff from the resale inside the published window.
Deeds are generally recorded at the county registry of deeds. Confirm the registry cut-off with the attorney.
What should you confirm about transfer taxes and recording?
Confirm Maine transfer tax, often discussed at closing, with the attorney. Your closer confirms the current rate for this file.
How does a double close work in Maine?
A double close in Maine uses two contracts: the A-B purchase and the B-C resale. Brittco funds the purchase. The closer on the file records the deeds, collects transfer charges, and orders the wires. Set the closing date with that office before you send the request.
What does a worked fee example look like?
On $150,000, the estimated fee is $1,500 for a same-day close (1%) and $3,000 if the resale closes within 7 calendar days (2%). Estimate only, not a quote.
Fee calculator ·How a double close works ·All states
What questions come up about Maine?
Can Brittco fund a flip or a double close in Maine?
Yes. In Maine, Brittco funds the purchase in a double close, a fix and flip with rehab draws, and a short-term loan on investment property. Same-day transactional funding is 1%. A resale within 7 calendar days is 2%. Fix and flip and private money are priced with the file.
Who typically closes in Maine?
Maine closings are commonly handled by attorneys. Ask the closing attorney whether the office will accept transactional funding on the purchase and a payoff from the resale inside the published window.
How are deeds recorded in Maine?
Deeds are generally recorded at the county registry of deeds. Confirm the registry cut-off with the attorney.
What about transfer taxes in Maine?
Confirm Maine transfer tax, often discussed at closing, with the attorney. Your closer confirms the current rate for this file.
What is the estimated transactional fee?
On $150,000, the estimated fee is $1,500 for a same-day close (1%) and $3,000 if the resale closes within 7 calendar days (2%). Estimate only, not a quote.
Fund a flip or a double close in Maine?
Send the property, the amount, and the two closing dates. Same-day funding is 1%.