All Forum Posts by: Tanya Knickerbocker
Tanya Knickerbocker has started 4 posts and replied 11 times.
Post: Upfront costs for private money
Tanya KnickerbockerPosted
- Yakima, WA
- Posts 11
- Votes 1
I have an offer on the table for a private money loan of $310k to finance the purchase of two properties. The lender wants half of the fees up front ($6k) as a wire transfer. Is that normal? I've never done private money before. It's not that I object to paying the $6k, it's that if i do a wire transfer, there is no real guarantee that I get funded. after that, everything goes through an escrow company so I feel fine with that. Is this ok or should I worry?