Transactional Funding. What is it?

[Account Closed]

I'm a newbie and have recently seen many ads for websites offering "transactional funding" on gmail. Can someone explain the process? All the ads give you is a vague, though very optimistic, blurb about how their company gives you all the money you need, no credit or income verification necessary, just easy money with nothing down, like all the hucksters promise.
What kind of transactions are they talking about? Is this a legitimate tool for investors? Something newbies could use? What are the real costs?

[Justin S.]

Chris-

It is real. They loan 100% of the deal for a double close. You MUST have a buyer in place before they will lend you the money. Typical fee's are 2% of the purchase plus $500. Minimum fee is usually $2500.00. My guy lends for 3 days at this rate and then anything after 3 days, its at 18% APR.

They do not check credit, there is no money down but, again, you need to have the end buyer lined up.