Can Brittco fund a flip or a double close in Texas?
Yes. In Texas, 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 Texas. 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 Texas?
In Texas, 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 Texas?
Texas investment closings are commonly handled by title companies. Ask the title company whether it will insure a same-day double close and what it needs in order to accept a transactional wire on the A-B purchase.
Deeds are generally recorded with the county clerk. Same-day funding is a title-company sequence. It does not require the first deed to be recorded before the resale documents are signed.
What should you confirm about transfer taxes and recording?
Texas is widely described as having no statewide real-estate transfer tax. Recording fees still apply. Confirm the county clerk’s fees with the title company.
How does a double close work in Texas?
A double close in Texas 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 Texas?
Can Brittco fund a flip or a double close in Texas?
Yes. In Texas, 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 Texas?
Texas investment closings are commonly handled by title companies. Ask the title company whether it will insure a same-day double close and what it needs in order to accept a transactional wire on the A-B purchase.
How are deeds recorded in Texas?
Deeds are generally recorded with the county clerk. Same-day funding is a title-company sequence. It does not require the first deed to be recorded before the resale documents are signed.
What about transfer taxes in Texas?
Texas is widely described as having no statewide real-estate transfer tax. Recording fees still apply. Confirm the county clerk’s fees with the title company.
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 Texas?
Send the property, the amount, and the two closing dates. Same-day funding is 1%.