Double Close Funding in Detroit, MI | Swift Deal Funding
Double Close Funding in Detroit, MI
Double close funding lets a Detroit wholesaler buy from the seller (A→B) and resell to the end buyer (B→C) the same day, through one title company, with no personal capital tied up between closings. Swift Deal Funding is a direct lender — we fund the A-to-B leg and get repaid from the end buyer’s proceeds when B-to-C closes. No credit pull, no income docs, no tax returns, all 50 states.
Detroit is the lowest-priced major market we work in, with a citywide median near $90K and enormous variance — a renovated home in East English Village or Bagley can run six figures while a stripped, vacant property nearby trades for under $20K. Much of the wholesale supply comes from Wayne County tax foreclosures, and much of the demand comes from out-of-state rental buyers. At these prices, spreads are often 50–100% of the buy, which is exactly when you don’t want both numbers on one assignment.
How a Double Close Closes in Detroit
Michigan is a title/escrow, wet-funding state with no attorney mandate, so a licensed Wayne County title company runs both legs:
- Your contracts and end-buyer proof of funds clear underwriting (2–4 business hours).
- We issue wire instructions to title the business day before closing.
- Funds land by 9 AM Eastern. A→B records, B→C records right after, our funds repaid from end-buyer proceeds — same business day.
Confirm your Detroit closer can sequence and disburse both legs same-day, that title is clear of any redemption issues, and account for out-of-state buyers’ wire timing.
Pricing
Tiered flat fee on the funded amount, collected at close — nothing upfront:
| Funded Amount | Fee Rate |
|---|---|
| Up to $1,000,000 | 1.25% |
| $1M – $10M | 1.0% |
| $10M+ | Custom |
A $30K A-to-B leg costs $375. You pay only if the deal funds and closes.
What You’ll Need
- Executed A-to-B purchase contract
- Executed B-to-C assignment or purchase contract
- Verified end buyer with proof of funds or financing letter
- Same-day closing scheduled for both legs
- A single Wayne County title company or closing attorney handling both
Local note: Detroit’s tax-foreclosure and vacant inventory frequently carries title complications and Michigan’s six-month redemption can cloud recently foreclosed properties — give your title company time to confirm marketable title before scheduling.
A Typical Detroit Double Close Scenario
A wholesaler buys a vacant brick bungalow near Bagley out of Wayne County’s tax-foreclosure pipeline at $24,000 and assigns to an out-of-state cash-flow investor at $46,000. That $22,000 spread is nearly 90% of the buy price — the kind of number you never show on a single assignment to a remote buyer. They double close: we fund the $24K A-to-B at 9 AM, B-to-C closes the same day at $46,000, and we’re repaid from the buyer’s wired proceeds. Fee at 1.25% is $300. Two separate statements; the spread stays private.
Apply
Submit your two contracts and end-buyer verification online — under ten minutes. Same-day before 11 AM Eastern; otherwise ~48 hours to wire-ready.
Frequently Asked Questions
Detroit prices are tiny — does double close funding still apply? +
Yes. We fund deals up to $100,000,000+ and have no minimum that rules out Detroit. With a citywide median near $90K but enormous block-to-block variance, a $20,000 buy reselling at $40,000 is a 100% spread — the most conspicuous kind to expose on one assignment. A double close runs the A-to-B and B-to-C through a single Wayne County title company on the same day, keeping that spread on separate statements. The fee is just 1.25% of the funded A-to-B amount.
Why is a double close common for Detroit's out-of-state buyers? +
Detroit draws heavy out-of-state and overseas buyers chasing cash-flow rentals at low entry prices. When you're reselling a $25,000 acquisition at $45,000 to a remote investor, a single assignment showing both numbers invites their agent to challenge your fee. A double close keeps it private: we fund your A-to-B leg, B-to-C closes the same day, and we're repaid from the buyer's wired proceeds. Build extra lead time for out-of-state wires.
Does Michigan's redemption period affect a Detroit double close? +
Not the double close itself, but it affects your inventory sourcing. Michigan has a six-month post-foreclosure redemption period, so a property coming out of foreclosure may not have clear, marketable title until redemption expires. For your A-to-B and B-to-C to close the same day, title must be clear and the Wayne County title company ready to insure. Confirm the redemption status and title condition with your closer before scheduling — especially on tax-foreclosure inventory.
Apply for Double Close Funding in Detroit, MI
Submit your application online — same-day decisions for complete files before 2 PM Eastern.