Double Close Funding in Richmond, VA | Swift Deal Funding
Double Close Funding in Richmond, VA
A double close lets a Richmond wholesaler buy from the seller (A-to-B) and resell to the end buyer (B-to-C) the same day, through one settlement agent, without revealing your spread. Swift Deal Funding is a direct lender that wires the A-to-C capital so both legs fund cleanly. With Richmond’s median sale price near $340,000, this often means funding low-six-figure purchases on rowhome streets in the Fan District and Church Hill or in redeveloping Manchester — with capacity to $10M+ on larger deals.
No credit pull, no income docs, no tax returns. We underwrite the executed contracts and a clean title.
How Double Close closes in Richmond
Virginia is both a wet-funding state and a CRESPA settlement-agent state: a licensed settlement agent — title company or attorney — handles the closing, and money must be in escrow before it. We wire to your settlement agent by 9 AM Eastern, and the double close requires one agent running both legs the same day.
Richmond’s character is historic and rehab-driven. The Fan District and Church Hill are dense with century-old rowhomes, much of it within the city’s Old and Historic Districts where exterior work faces architectural review — relevant to your end buyer’s renovation plans, though not to the funding. Across the James River, Manchester is converting old industrial stock into residential, which can carry its own title quirks. The common thread is title: open the commitment early on these older parcels so subdivided-lot histories, party-wall easements, or dated chains clear before closing day. Standard turnaround is about 48 hours from a complete file; same-day is possible before 11 AM ET. Confirm specifics with a local Virginia settlement agent.
Pricing
Tiered flat fee on the funded amount, collected on the settlement sheet — nothing upfront:
| Funded Amount | Fee Rate |
|---|---|
| Up to $1,000,000 | 1.25% |
| $1M – $10M | 1.0% |
| $10M+ | Custom |
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
- Same-day closing scheduled for both legs
- A single Virginia settlement agent (title or attorney) handling both legs
Richmond note: open title early on older Fan/Church Hill parcels and confirm any historic-district considerations relevant to your end buyer.
A typical Richmond double close scenario
You tie up a Church Hill rowhome at $260,000 (A-to-B) and have an end buyer — a rehabber who knows the historic-district review — at $300,000 (B-to-C), same-day at one Virginia settlement agent. We wire the $260,000 for the A leg by 9 AM. The B-to-C closes minutes later; the agent repays our $260,000 from the end buyer’s proceeds and remits our 1.25% fee ($3,250) off the statement. Your spread before costs is about $40,000 — and your buyer never sees the A-side price.
Apply
Send your two contracts and end-buyer verification through the online application. Most files are wire-ready in about 48 hours; submit before 11 AM ET for same-day consideration.
Frequently Asked Questions
Who settles a Richmond double close — title company or attorney? +
Either. Virginia is a CRESPA state, so a licensed settlement agent — a title company or an attorney — handles closing. The double close requires one settlement agent running both the A-to-B and B-to-C legs the same day so the chain stays clean and our funds repay from end-buyer proceeds at the table. Virginia is also a wet-funding state, so we wire to that agent by 9 AM Eastern on closing day. Richmond has plenty of settlement agents experienced with back-to-back closings.
Do historic-district rules affect a Fan District or Church Hill double close? +
They affect the rehab, not our funding. Much of the Fan District and Church Hill sits in Richmond's Old and Historic Districts, where exterior changes face architectural review. That matters to your end buyer's renovation plans and can influence value, but it doesn't change the same-day double close itself. We fund A-to-C in about 48 hours from a complete file; just make sure the title work on these older rowhomes is opened early so any easements or prior-conversion issues clear before closing.
Are older Richmond rowhomes harder to double close? +
Not inherently, but the title work deserves attention. Fan District and Church Hill rowhomes are often a century or more old and may carry subdivided-lot histories, party-wall easements, or dated chains of title. Manchester's converted industrial parcels can have their own quirks. None of that stops a double close — it just means opening the title commitment early so the single settlement agent can clear both the A-to-B and B-to-C legs the same day. Confirm with a Virginia settlement agent.
Apply for Double Close Funding in Richmond, VA
Submit your application online — same-day decisions for complete files before 2 PM Eastern.