NO CREDIT CHECK PROPERTY ACQUISITION $750k TO $20 MILLION

Commercial And Residential Properties Accepted

GENERAL PROPERTY ACQUISITION TRANSACTION COSTS

Applicants must be agreeable to a higher cost in connection with acquiring their commercial property. Some costs exist even within the framework of a mortgage loan. Yet others are specific to this program:

The analysis fee is charged to locate and place the transaction with a private investor. It serves no other purpose. It is paid directly to the program at the same time the application is submitted. It is refundable only in the event that the application is not approved or if the transaction cannot be completed on account of the assigned investor.

The appraisal fee is contingent on the willingness of the seller to carry this expense. If payable, it is paid directly to the appraiser. The sourced investor may or may not accept a dated appraisal. Properties zoned commercial typically require an MAI appraisal. In any case, it is the sourced investor that has final word on appraisal issues.

The cash consideration represents the amount of money that the applicant must provide to complete the transaction. These funds must be in the form of cash. Equity in any property may not substitute for cash consideration. Lastly, funds located in title escrow must first be released in order to be applied as cash consideration.

The net investor fee is what the investor charges to perform on a non-qualifying transaction. It is a small price to pay for an enormous individual commitment on the part of the assigned investor. The exact amount of the investor fee is determined by the transaction size and the amount the investor is agreeable to. It is not possible to determine in advance of submitting an application where the investor fee will precisely come in. Therefore, applicants should base their decision to apply on the maximum investor fee of 15%. The investor fee is not paid out-of-pocket. It is rolled in.

The closing costs incurred by the sourced investor in connection with purchasing the property applied for is passed on to the applicant. It is not possible to itemize the exact costs in advance, though they will be detailed prior to completion of the transaction. Applicants that need this information prior to applying for the program should not apply. Generally, closing costs will not exceed 5% of the transaction value and may at the discretion of the sourced investor be rolled-in.

Applicants should apply for a program approval only if they are agreeable to the fees involved, only some of which are known prior to the submission of an application.

APPROVAL REQUIREMENTS

It is sometimes difficult to adjust to the idea that an applicant will be approved regardless of credit, income or job status verification. This however, is definitely the case, as this is not a loan and money is not being borrowed. The program does not evaluate the applicant beyond personal character references. Instead, the property and appraised value are the central focus. As long as minimal requirements are met, the application will usually be approved:

--Required cash consideration. Typically just 12.5-20%.

--Normal property structure not remotely located.

--3 character references.

--Stated income indicating that the applicant can afford reasonable monthly trust payments.

--Analysis fee submitted with application.

For each application resulting in an approval, an approval letter will be provided. Approvals expire one (1) year from the date they are issued.

Investment properties are compatible with this program

If a property on a pending application is withdrawn for any reason, a new property may be submitted as a replacement during the approval period of one year. In this case a new analysis fee is not required.

CONSIDERATION REQUIREMENTS

The property cash consideration requirement is not treated like a fee. The amount is generally set at 12.5-20% and is calculated on the property sales price plus investor fee. It is credited to the transaction in a similar way that a down payment is credited on a real estate purchase.

The exact amount of the cash consideration required is determined by the investor who approves the transaction, although this information is often available to the applicant via their broker and prior to applying.

The property cash consideraton is submitted after an approval is issued.

The total out-of-pocket expense is limited to the analysis fee, cash consideration and closing costs not exceeding 5%.

Properties needing advance funds for construction require double cash consideration. This means that in the event that the sourced investor would normally require 12.5% consideration, the revised requirement would be boosted to 25%.

Cash Consideration has only one of two possible final destinations. In the event of a successful closing, the funds are released to the sourced investor. If a closing does not take place on account of the investor or due to a cancellation on the applicant side, the funds are returned to the original submitter.

APPLICATION PROCESSING

The following steps take place in connection with the processing of a general property acquisition application:

--Application and analysis fee is received by the program.

--Applicant references are verified.

--Investor is sourced.

--Formal approval is issued.

--Approval letter is provided.

--Consideration is submitted.

--File is submitted to investor for funding.

--The Investor completes pre-funding due diligence. This occurs at the sole expense of the investor.

--The investor executes the property purchase agreement immediately prior to scheduling a closing date.

--First closing is scheduled and completed to purchase the property.

--Second closing follows 24-48 hours later between the investor and the applicant.

While the sourced investor in fact purchases the property and the property is titled to the investor, the actual property is placed in the trust with the applicant receiving first option.

The term of the trust is 7 years. The applicant may choose to cash out of the trust any time prior to then. After 7 years, the trust must be settled or reiniatiated.

ANALYSIS FEE REFUND POLICY

In the event that applicant's application is not approved, the associated analysis fee is refundable, providing the applicant signs a general cancellation form release, Equally, if the sourced investor is unwilling or unable to complete the transaction, the analysis fee is also refundable.

The analysis fee is non-refundable in the event that the application is approved and the sourced investor is able and willing to complete the transaction.

The refund policy may not be superseded by a third party or verbal representation of any kind by any party. In the event that the program grants a discretionary exception to this refund policy, a 25% cancellation charge may apply.

SUMMARY

When carefully examined, this program is seamless and easy to convey. In fact, the processing of an application and closing is by far speedier and less complex than financing via a mortgage loan.

This program is not exclusively suitable for individuals with poor credit. Interestingly, many of the applicants are of excellent credit standing, but prefer a discreet acquisition process with a minimal paper trail.

Application:

Application & Instructions