Can Brittco fund a flip or a double close in North Carolina?
Yes. In North Carolina, 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 North Carolina. 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 North Carolina?
In North Carolina, 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 North Carolina?
North Carolina closings are commonly conducted by attorneys. Ask the closing attorney whether the office will handle a double close with transactional funding, and what the attorney needs from Brittco before the day of closing.
Deeds are generally recorded with the county register of deeds. Confirm that register’s cut-off with the attorney.
What should you confirm about transfer taxes and recording?
Confirm North Carolina excise tax with the closing attorney. Your closer confirms the current rate for this file.
How does a double close work in North Carolina?
A double close in North Carolina 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 North Carolina?
Can Brittco fund a flip or a double close in North Carolina?
Yes. In North Carolina, 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 North Carolina?
North Carolina closings are commonly conducted by attorneys. Ask the closing attorney whether the office will handle a double close with transactional funding, and what the attorney needs from Brittco before the day of closing.
How are deeds recorded in North Carolina?
Deeds are generally recorded with the county register of deeds. Confirm that register’s cut-off with the attorney.
What about transfer taxes in North Carolina?
Confirm North Carolina excise tax with the closing 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 North Carolina?
Send the property, the amount, and the two closing dates. Same-day funding is 1%.