The Closing

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Before the Closing:

• You will have vetted:
  • Us,
  • The property,
  • The documentation,
  • The borrower, and
  • The closing agent;
• We will have vetted you;
• You and the trustees will have e-signed an agreement to do the deal, with terms that include:
  • Your investment amount,
  • Your interest rate,
  • The income stream being assigned to you, and when it will begin,
  • The security for your investment,
  • The amount and date of your good faith deposit,
  • The closing date, and
  • The closing agent;
• We will send that e-signed agreement to the closing agent;
• The closing agent will open an escrow;
• You will make a good faith escrow deposit with the closing agent;
  • For repeat investors, this will be waived;
• We will inform the borrower of the planned upcoming change of the Zelle payments to your account;
• The borrower will send you a test micro-payment, via Zelle;
• You will confirm that you received the test payment; and
• The closing agent will:
  • Perform a title check,
  • Get all the necessary docs signed by you and the trustees,
  • Confirm all the documentation is in order,
  • Schedule your wire transfer of your investment amount, and
  • Schedule the closing.

The Closing

We use Link Title for our closings, a national title company operating in all 50 states.

• You will wire your investment to the closing agent; and
• The closing agent will:
  • Record the official documents with the county,
  • Notify the borrower that all future Zelle payments are to go to your account,
  • Send you and the trustees all the documentation, and
  • Disburse the proceeds of the transaction to the trust, minus all the closing costs.

Your only expense for the closing will be what your bank charges you to wire your investment to the closing agent.

After the Closing:

• You will get the income stream from the borrower;
• The trustees will, at no charge to you, enforce timely:
  • Loan payments,
  • Property tax payments, and
  • Property maintenance; and
  • You will have full recourse.
• If the borrower fails to perform, the trustees will:
  • Step in and fulfill the obligations to you; and
  • If necessary, foreclose on the borrower.