If the private lender takes first position in the property to secure investment

Financing, Hard Money Lenders, Private Money
1

Hi,

 You find and contract for the property with an assignment clause just in case, you open escrow with local title company and provide earnest money, you find private lender, private lender requests you have 20% down for example, you deposit 20% down with escrow, your lender deposits their funds to escrow a day before closing or morning of closing, you go to closing, sign loan and title papers, the escrow company records and you own the property 100%


        GR
2

Hi,

Escrow / Title company creates and supplies documents for recording between you and lender!

You have to do a contract for purchase with seller to open escrow!

        GR
3

Well, they’re really the hard money lenders who understand the private lender’s regulations. It always holds a minimum of a 5% stake in loans, including initial down deposit or no upfront fees depending on the agreement.