Funding a double closing has one of two ways that they are done in todays environment.

In the first case the person or entity purchasing the property brings funds to purchase the property and the Investore / wholeseller takes those funds and uses them to fund the closing of the first deal at the same time of the other closing. Florida still allows this process while other states have discontinued this process. So, investors and wholesellers can use their own money or they can locate transactional funding.

The other process is called transactional funding where the lender provides the full amount of the transaction needed to complete the first deal. This allows the investor to be able to complete the second transaction without having to use any of it's own capital. The Transactional Funding Lender simply charges a fee which is equal to a percentage of the transaction. The fees however, are generally more than the normal back rates. Which if you are an investor you are generally not surprised.

Different from hard money lenders, the transactional funding lenders regularly require a fast turnaround time in order to get their money back. This means that a double closing must take place with in 1 to 2 days and be completed.

The National Association of Real Estate Brokers

The National Association of Real Estate Brokers (NAREB) is a trade organization and network of Black real estate professionals known for promoting “democracy in housing” and advocating for public policies that “protect and expand sustainable homeownership.”

The organization’s members, who go by the title of Realtist, are spread throughout chapters across the United States. NAREB’s Realtist membership includes real estate brokers as well as professionals from other disciplines within the real estate industry such as mortgage brokers and appraisers.

“NAREB is the premier network of Black Real Estate Professionals,” NAREB President Lydia Pope said. “Our purpose is to enhance the professional and business conditions of NAREB Realtist members by strengthening the consumer capacity of Black, minority, and emerging target market segments that our Realtists serve.”