Cash Back At Closing
What would real estate investors or the common homeowner do, if there was a company that provided its services that allowed you to LEGALLY receive the cash that you wanted at closing from your deal? No part of the services provided would be illegal, no fraud, no gimmick, and no “under the table kickback,” no risk to you the investor or homeowner. Everything would be fully disclosed to all parties, lender, seller, buyer, Title Company or attorney long before closing. Better yet what if the program secured your lender in such a way that he would never have to foreclose on the subject property in the event of default? It would not matter if you were seeking cash at closing in the amount $5,000, $10,000, $20,000 or more and you could use the funds however you chose to for your investment business.
Is this a trick question?
Sure, where should my buyers and I fly in at?
Now ask yourself what would be a fair charge for this service? Then consider that almost all cash back techniques require that equity be present in the deal when purchased. In other words the seller has discounted or reduced his sales price lower than the appraised value. The buyer purchases the property at the reduced sales price which maybe $5,000, $10,000, $25,000 or lower than its true value per a good faith, third party appraisal. You, the buyer want some or all of this equity in cash at closing. Still interested?