Double Close Funding in Rhode Island | Swift Deal Funding
Double Close Funding in Rhode Island
Double close funding lets a Rhode Island wholesaler buy from the seller (A→B) and resell to the end buyer (B→C) on the same day, using our capital for the A→B leg so none of your own cash is committed. In the compact Providence-centered market, funded amounts commonly run $200,000 to $500,000, with single-transaction capacity past $10 million.
The defining feature of a Rhode Island closing is that it’s an attorney-close state. A licensed Rhode Island attorney — not a title company acting alone — conducts the closing and controls the disbursement and recording. For a double close that’s actually an advantage: one attorney runs both legs, so the chain of funds and the recording order sit with a single, accountable party. The same attorney who closes the A→B leg immediately closes the B→C leg.
How a double close closes in Rhode Island
Rhode Island is a wet-funding state, so our capital must be in the attorney’s escrow before any deed records. On closing morning, our wire reaches your closing attorney’s escrow by 9 AM Eastern. The A→B deed records and the seller is paid; immediately after, the B→C deed records and your end buyer’s funds repay our capital plus fee — all the same business day. Because one Rhode Island attorney handles both legs, the same-day sequence is easy to keep tight. We coordinate the wire and disbursement with the attorney’s office before closing.
Pricing
Tiered flat fee on the funded A→B amount, collected on the closing statement. No upfront or application fees.
| Funded Amount | Fee Rate | Example |
|---|---|---|
| Up to $1,000,000 | 1.25% | $300K deal = $3,750 |
| $1M – $10M | 1.0% | $2.5M deal = $25,000 |
| $10M+ | Custom | Contact us |
You pay only if the deal funds and closes.
What you’ll need
- Executed A→B purchase contract (seller to you)
- Executed B→C assignment or purchase contract (you to end buyer)
- Verified end buyer with proof of funds or financing pre-approval
- Same-day closing scheduled on both legs
- One Rhode Island closing attorney handling both transactions
No credit check, no income docs, no tax returns. Direct lender, underwriting on the deal documents.
A typical Rhode Island double-close scenario
A Providence wholesaler locks a two-family at $260,000 and has an investor-buyer at $300,000. To resell cleanly as a principal, they double close. We fund the $260,000 A→B leg; the wire reaches the closing attorney’s escrow by 9 AM Eastern. The attorney records the A→B deed, pays the seller, then records the B→C deed; the buyer’s $300,000 repays our funds plus the 1.25% fee ($3,250). The wholesaler nets roughly $36,750, with one attorney controlling the entire chain and no personal cash in the deal.
Apply
Send both contracts and your end-buyer verification online — under ten minutes. Standard turnaround is about 48 hours to wire-ready; same-day is possible for complete files in before 11 AM Eastern.
Frequently Asked Questions
Does Rhode Island require an attorney to close a double-close deal? +
Yes. Rhode Island is an attorney-close state, so a licensed Rhode Island attorney conducts the closing rather than a title company acting alone. For a double close, that one attorney handles both the A-to-B and B-to-C legs, controlling the chain of funds and recording order. Give us your closing attorney at application and we coordinate the wire and disbursement with their office directly. The attorney's role is exactly why the same-day sequence stays tight in RI.
Rhode Island is a wet-funding state — how does that work with a double close? +
Our funds must be in the attorney's escrow before any deed records. We wire to your Rhode Island closing attorney by 9 AM Eastern on closing day, so both legs can settle the same business day. The A-to-B deed records and the seller is paid; immediately after, the B-to-C deed records and your end buyer's funds repay our capital plus fee. One attorney, one escrow, one day.
Is Rhode Island's small size a problem for sourcing double-close deals? +
Not really. Rhode Island is geographically tiny and densely populated, with most investor activity centered on Providence and the surrounding metro. Deal volume is smaller than in big states, but the close-knit attorney and broker community means transactions move efficiently once a deal is under contract. We've funded deals in every state and coordinate with Rhode Island closing attorneys the same way we do anywhere else.
Apply for Double Close Funding in Rhode Island
Submit your application online — same-day decisions for complete files before 2 PM Eastern.