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All Forum Posts by: Tanya Knickerbocker

Tanya Knickerbocker has started 4 posts and replied 11 times.

Buying & Selling Real Estate

Post: Upfront costs for private money

Tanya KnickerbockerPosted
  • Yakima, WA
  • Posts 11
  • Votes 1

I have an offer on the table for a private money loan of $310k to finance the purchase of two properties. The lender wants half of the fees up front ($6k) as a wire transfer. Is that normal? I've never done private money before. It's not that I object to paying the $6k, it's that if i do a wire transfer, there is no real guarantee that I get funded. after that, everything goes through an escrow company so I feel fine with that. Is this ok or should I worry?

0 Votes