Problems with earnest money payments can ruin a property deal. But they can be avoided if you use this method.
When buying commercial real estate (CRE), knowing how to pay earnest money online may not be top of an investor’s to-do list. Other pressing tasks like securing the purchase price or finding the right lender tend to take the limelight.
Yet an earnest money wire transfer is a transaction that can save a property deal.
In one stroke, it enables the CRE investor or homebuyer to both prove their commitment and their financial credibility, catapulting them to the front of the line and securing the investment before rivals.
In a fast-paced CRE market, knowing how to pay earnest money online quickly and securely with new digital payment tools is proving to be a game-changer.
According to research by consulting firm Mordor Intelligence, the US market is extremely diverse and competitive without many dominant players. This means slight advantages can tip the scales in the favor of small investors.
The US’s fragmented CRE market in 2023
If you’re an investor who knows how to wire earnest money quickly, you can quite easily gain the upper hand on a rival.
You’ll also find that it will bring an end to common earnest money concerns, including:
But what if this online payment solution meant that you could prove your credibility without dipping into your personal funds? How much earnest money you need, whether in Texas or Missouri, ceases to matter so much if it’s coming from an external fund pool.
What’s more, you’ll have the capability to work on multiple deals at once.
This is the crux of LLC-based finance. Quick, transparent, and secure, it provides a ready-made answer if you’re wondering how to pay earnest money without a check.
In today’s competitive property market, it’s the key to unlocking deals in 48 hours that investors have been looking for.
Ever wondered how you can unlock your dream property deal without dipping into your personal capital? Sign up to Duckfund and find out how our innovative solution can get you working on multiple property deals at once.
Take a moment to picture how you would have wired an earnest money payment in the old days. You’d have sat down in a bank, taken out your checkbook, and asked them to wire funds from your bank account to the escrow company.
You’d have had to pass a certified check to guard against wire fraud and maybe gotten a little impatient as you waited for the funds to pass the ACH.
The transfer drags on. The seller gets cold feet. The real estate deal falls through.
In stark contrast, Duckfund's LLC-based solution seamlessly blends into a digital payments-first world that values speed, convenience, and safety.
The ultimate fast track to online earnest money finance, you can sign up in seconds, apply in minutes, and receive approval in hours.
Take a look how simple our application form is: no paperwork mountains, credit checks, or awkward conversations with the bank manager, just fill out a few digital boxes and you’re on your way.
Once this is in place, Duckfund’s innovative process kicks into action: all you need to do is sit back and watch your real estate transaction unfold.
Here’s how to send money to a title company without risking your personal capital:
Duckfund sets up a limited liability company (LLC), which acts as the legal entity for the property purchase
This protects you should the transaction go wrong as it separates your personal assets from the process: it also means you don’t need to fuss with the likes of title insurance and other related expenses.
You sign a call option agreement for the full membership stake in the LLC, which gives you the option to buy the entity and its assets (i.e. the property) at a later date.
You pay a much lower upfront fee of 2% of the deposit size per 30 days, compared to 1% of the purchase price (which can reach millions of dollars) that other lenders charge.
A purchase and sales agreement is signed in the LLC’s name, outlining the terms and conditions of the sale. The deposit amount goes to the real estate agent’s escrow account.
Once you perform due diligence, you have a choice.
The commercial real estate market is moving fast. Investors who don’t know how to pay earnest money online quickly and securely risk missing out on the prime office property and commercial spaces that make up the best CRE deals in 2023.
Don’t be one of them.
Ready to secure a popular property ahead of your rivals? Sign up to Duckfund in seconds, apply for finance in minutes, and get approved in hours.
Both can make or break your property deal, so understanding these two key terms (and how they differ) is crucial.
Understanding the process of paying earnest money in Colorado can spell the difference between closing and losing a deal.