What Are Average Rates For Transactional Funding In SW FL

[John Thedford]

Hello....
I have an individual asking about borrowing some transaction funds in SW Florida. I haven't done these and haven't paid attention to average rates for this type of transaction. Thoughts? @Jay Hinrichs? Any other lenders doing those that can chime in would be appreciated. 

[Benjamin Pekarek]

John, 

Coming from the other side, depending on the size of the deal, and the length of time, I've paid anywhere from $500.00 (A-B C-D closing, held funds for less than an hour), all the way up to $5,000.00 ($2,000,000.00 home, cash buyer contingent on their sale closing. Deal held over for almost five full days - charge was $1,000.00/day, $1,000.00 accrued at 5:00 PM daily). Depending on how strong the buyer is, and how well you know your client, charge accordingly. 

-Ben