EMD Funding in Memphis, TN | Swift Deal Funding
EMD Funding in Memphis, TN
EMD funding covers the earnest money deposit on your Memphis contracts — typically $5,000 to $25,000 — wired to your title company within about 24 hours so you can lock up a property without spending your own cash. It exists for a specific timing problem: Memphis is one of the busiest turnkey and wholesale markets in the country, deals move fast, and you often want to tie up several before you’ve matched them to out-of-state end buyers. EMD funding lets you compete with cash offers across Frayser, Whitehaven, and Berclair while keeping your working capital free. The deposit must be refundable under your contract’s inspection or due-diligence terms.
How EMD funding works in Memphis
Tennessee is a title/escrow, wet-funding state, so your earnest money is held by the closing escrow agent — a Memphis title company, often attorney-owned. We wire the funded EMD straight to that title office and it sits in escrow under your contract, never released to the seller before closing. There’s no attorney-closing mandate in Tennessee, so any licensed title company can hold the deposit. We need written confirmation from title that the EMD is refundable per your terms before we fund. Confirm refund handling and any non-refundable date with title locally.
Pricing
| Option | Upfront | At Close |
|---|---|---|
| A | 5% of EMD (min $500) | 20% of EMD |
| B | 10% of EMD (min $1,000) | 0% — most popular |
A $15,000 Memphis EMD on Option B costs $1,500 total, paid once, with nothing due at closing.
What you’ll need
- Executed purchase contract with refundable EMD language
- Memphis title company / escrow contact
- Written confirmation from title that the EMD is refundable
- Your ID
No credit, income, or tax docs.
A typical Memphis EMD scenario
You go under contract on a $175,000 turnkey rental in Whitehaven that’s drawing competing offers. The seller wants a $10,000 deposit to take it off the market. Rather than commit your own cash while you shop it to your out-of-state buyer list, you order EMD funding. We wire $10,000 to the attorney-owned title company within 24 hours; on Option B your cost is $1,000, paid once. If due diligence kills the deal, the deposit comes back refundable.
Apply
Submit your contract and title contact online — under 10 minutes. Same-day wire possible before 11 AM Eastern.
Frequently Asked Questions
Why do Memphis wholesalers use EMD funding? +
Memphis is a high-volume turnkey market where good deals in Frayser, Whitehaven, and Orange Mound get multiple offers fast. EMD funding lets you put real earnest money behind several contracts at once — locking up properties while you line up out-of-state end buyers — without draining your own cash. We send the deposit, typically $5,000–$25,000, to your Memphis title company within 24 hours, and it stays refundable under your contract's inspection or due-diligence terms.
Who holds the earnest money in a Memphis deal? +
In Tennessee the earnest money goes to the closing escrow agent — usually a Memphis title company, many of which are attorney-owned. We wire the funded EMD directly to that title office, not to the seller, and it's held in escrow per your contract. Before we fund, we need written confirmation from title that the deposit is refundable under your contract terms, so your downside is protected if the deal falls through during due diligence.
How quickly can you fund earnest money on a Memphis contract? +
We wire the EMD to your Memphis title company within about 24 hours of a complete application and title confirmation. For contracts with tight deposit deadlines — common when you're competing with cash buyers on turnkey inventory — same-day funding is possible for complete files submitted before 11 AM Eastern. The application takes under 10 minutes: the contract with refundable EMD language, your title contact, and ID.
Apply for EMD Funding in Memphis, TN
Submit your application online — same-day decisions for complete files before 2 PM Eastern.