Double Close Funding in Cleveland, OH | Swift Deal Funding
Double Close Funding in Cleveland, OH
Double close funding lets a Cleveland 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.
Cleveland is one of the most affordable major markets in the country, with a citywide median near $120K and plenty of inventory well below that. It’s also a magnet for out-of-state and overseas rental buyers. That combination — low prices, remote buyers — makes the double close the default tool here: spreads are often a large percentage of the deal, and you don’t want a California buyer’s agent seeing your acquisition price.
How a Double Close Closes in Cleveland
Ohio is a title/escrow, wet-funding state with no attorney mandate, so a licensed Cuyahoga 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 Cleveland closer will sequence and disburse both legs same-day, 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 $45K A-to-B leg costs $562. 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 Cuyahoga County title company or closing attorney handling both
Local note: Cleveland’s distressed and tax-delinquent inventory can carry old liens and clouded title — Ohio’s judicial-foreclosure history means giving title time to clear chains in Slavic Village and Collinwood.
A Typical Cleveland Double Close Scenario
A wholesaler picks up a vacant colonial in Old Brooklyn at $38,000 and assigns to an out-of-state turnkey buyer at $58,000. That $20,000 spread is over 50% of the buy price — far too conspicuous to expose on one assignment to a remote buyer. They double close: we fund the $38K A-to-B at 9 AM, B-to-C closes the same day at $58,000, and we’re repaid from the buyer’s wired proceeds. Fee at 1.25% is $475. Two separate statements; the spread never surfaces.
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
Why do Cleveland wholesalers selling to out-of-state buyers use a double close? +
Cleveland is a heavy out-of-state investor market — buyers in California, New York, and overseas purchase rentals sight-unseen at low prices. On a $35,000 acquisition reselling at $55,000, the spread is a large percentage of the deal, and showing both numbers on a single assignment invites pushback from a remote buyer's agent. A double close keeps the A-to-B and B-to-C prices on separate statements through one Cuyahoga County title company, so your spread stays private.
Are Cleveland's low purchase prices a problem for double close funding? +
No. We fund deals up to $100,000,000+ and have no minimum that excludes Cleveland's market. A $40,000 A-to-B leg funds the same way a $400,000 one does — the fee is just the tiered rate on that amount (1.25% up to $1M). Cleveland's very affordable Slavic Village, Old Brooklyn, and Collinwood inventory means small dollar amounts but often double-digit-percentage spreads, which is exactly where keeping prices separate pays off.
How fast can you fund a Cleveland double close? +
About 48 hours from a complete file to wire-ready, or same-day when your application is in before 11 AM Eastern with the A-B contract, B-C assignment, end-buyer proof of funds, and a title commitment. We wire to your Cuyahoga County closing agent by 9 AM Eastern on closing day. With many Cleveland buyers wiring funds from out of state, build a little extra lead time for their bank's outbound wire cutoffs.
Apply for Double Close Funding in Cleveland, OH
Submit your application online — same-day decisions for complete files before 2 PM Eastern.