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Updated about 10 years ago on . Most recent reply

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Kairaba Burson
  • Investor
  • Richmond, VA
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private funding secured by real estate.

Kairaba Burson
  • Investor
  • Richmond, VA
Posted

how do i secure private money lenders funds with the property if they are doing 100% funds at closing?

 On another note.  How do i secure their funds if it's just for the down payment on a loan? 

 I contacted one title company that claims they work with investors and they said they've never done this

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Bill Gulley#3 Guru, Book, & Course Reviews Contributor
  • Investor, Entrepreneur, Educator
  • Springfield, MO
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Bill Gulley#3 Guru, Book, & Course Reviews Contributor
  • Investor, Entrepreneur, Educator
  • Springfield, MO
Replied

They need a note and deed of trust, a title company will often do this for seller financing, they get gun shy writing notes for purchase money lending by individuals, that should go to their (or your) attorney. If there are several lending, it becomes more complicated so you should really see an attorney.

The loan made simply includes the purchase price, settlement costs and excess amounts would be disbursed to you at settlement. See your attorney :) 

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