Can Brittco fund a flip or a double close in Maryland?
Yes. In Maryland, 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 Maryland. 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 Maryland?
In Maryland, 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 Maryland?
Maryland closings may involve a title company, a settlement officer, or an attorney. Ask who is responsible for disbursement and whether both contracts can close in one settlement.
Land records are generally filed with the circuit court for the county, or with the county land-records office. Confirm which desk handles the property.
What should you confirm about transfer taxes and recording?
Maryland recordation and transfer charges are easy to underestimate. Confirm them with the closer. They are separate from Brittco’s transactional fee.
How does a double close work in Maryland?
A double close in Maryland 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 Maryland?
Can Brittco fund a flip or a double close in Maryland?
Yes. In Maryland, 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 Maryland?
Maryland closings may involve a title company, a settlement officer, or an attorney. Ask who is responsible for disbursement and whether both contracts can close in one settlement.
How are deeds recorded in Maryland?
Land records are generally filed with the circuit court for the county, or with the county land-records office. Confirm which desk handles the property.
What about transfer taxes in Maryland?
Maryland recordation and transfer charges are easy to underestimate. Confirm them with the closer. They are separate from Brittco’s transactional fee.
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 Maryland?
Send the property, the amount, and the two closing dates. Same-day funding is 1%.