Seven steps, and what each one needs from you.
You are comparing friction as much as price. Here is every stage, what it costs you in time, and exactly what we will ask for — so nothing in the file arrives as a surprise on day nine.
- 01
Submit the deal
Same daySend the address, the purchase price, the renovation budget, the value you expect when it is finished, and how you intend to repay. A phone call works as well as the form.
You provideAddress · purchase price · rehab budget · expected value on completion · target term · exit
- 02
Screening call
Within 1 business dayA real conversation about the block, the scope and the exit. If the deal does not work, you hear it here — with the reason, and with what would have to change for the answer to be different.
You provideLine-item scope of work with contractor pricing · photographs of current condition
- 03
Term sheet
2 business days from a complete fileAmount, rate, points, term, advance limits, holdback and conditions to close, in writing. Valid 14 days. Signing it authorises the appraisal and the title order; it is not a commitment to lend.
You provideSigned term sheet · third-party report deposit · entity documents
- 04
Underwriting, appraisal and title
5–9 days, concurrentWe walk the property ourselves while the appraisal and title work run in parallel. Questions come back in writing, in one list, not in a trickle.
You provideOperating agreement · certificate of good standing · proof of funds for your contribution · insurance binder · contractor licence and W-9
- 05
Closing and funding
10–14 days from signed term sheetClose at a Virginia settlement agent of your choosing. The purchase advance wires at closing; the renovation holdback stays with us and is released by draw.
You provideWired closing funds · executed note, deed of trust and guaranty
- 06
Draws during renovation
3 business days per drawRequest a draw when a stage is complete. We inspect, then fund. No draw fee, no minimum draw size, and no requirement to bundle work into fewer requests than the job needs.
You provideDraw request form · invoices · photographs · lien waivers from the prior draw
- 07
Payoff at exit
Statement in 2 business daysSale or refinance. Request a payoff statement and we issue it within two business days, good through a stated date. Release of the deed of trust is recorded after funds clear.
You provideSettlement date · settlement agent contact
Stage timings are indicative and pending confirmation TBD. Appraisal and title timelines are set by third parties.
How draws actually work
Renovation money is not wired to you at closing. It sits in holdback and is released against work that is finished and inspected — which means you or your contractor funds each stage first and is reimbursed on completion. Price your working capital accordingly.
Illustrative schedule on a $64,000 holdback. Your schedule is set at closing against your own scope of work.