BiggerPockets

I got a Shortsale approved and a cash buyer. However the buyer insists on using his title company which won't do both deals on the same day because they want at least another day or so to record at the courthouse then close the second deal. Is there any type of transactional funding beyond 24 hours? Are there any other alternatives? I need to close this deal ASAP.

Cliff- You'll find a lender that will go longer as long as the loan is secured and the return is high enuff. Look around.

Karen- when you got ate alive in points, what was your total cost for the 30 days. BTW, I was in St. Pete looking at properties to loan on this past weekend. Maybe next time we can chat. Rich in FL.

I need to borrow $106,000 - I have cash buyer lined up for $125,000 and on contract ready to close. I can close my deal with bank asap say this Friday and the title company will record deed and close second deal to end buyer on Tuesday.

I have:
A to B contract signed
B to C contract signed
Shortsale Approval letter and wiring instructions
Title Company info

What I don't have is the money to close the deal. I don't want to be pummeled with fees obviously but as long as it's reasonable given the circumstances.

What's the best way to contact you?

See Cliff. I told you to look around and you'd find a lender. Will has LOTS of money and is willing to use it. Rich in FL.

Now were talking. :D

Sounds good.

Just a quick update, I was steaming toward closing and the day before the Title company backed out of the deal. They didn't like that fact that the two deals were linked. I tried to convince the buyer to go with another title company and they simply would not budge. I guess they didn't really want the property after all. Anyway on to the next deal.

Hello Cliff,
Sorry about your deal going south. On the next one the suggestions above to insist or to give some incentive to use the same title company is sound advice. Using two companies can at times be accomplished, but generally transactional Funding companies will not allow seperate closings at seperate title companies. It just adds to the number of chefs in the kitchen and drastically lowers security to the transactional lender. If you can keep it at one title company you should see lower total closing costs and have the availability of lower cost Transactional Funding, versus other alternatives.
To your success,