Simultaneous Closings
Our Simultaneous Closing Option
RLM Funding offers a simultaneous closing option to sellers offering owner financing. With this option, the seller doesn’t have to carry the note! You can receive a lump sum of cash at closing in exchange for the payments you would be receiving. We could buy the note from you at closing, give you a lump sum of cash, and automatically begin receiving payments from the buyer. It’s that simple!
Example:
Sale Price: $100,000
Down Payment: $10,000
You may take a second $10,000
Note to be bought at closing: $80,000
Term: 30 yrs. at 10% interest for $702.06 per month
Depending on the credit, we may offer $71,162
At closing, you receive $81,162 plus a note of $10,000 plus interest, and the home is sold quickly
(Home seller actually receives a total of $91,162 plus interest on the second position note)
