Double Close Funding in Michigan | Swift Deal Funding
Double close funding in Michigan
Double close funding gives a Michigan wholesaler the capital to buy from the seller (A→B) and immediately resell to the end buyer (B→C) on the same day, without using your own cash for the middle leg. We wire the purchase funds, both transactions record, and we’re repaid from the end buyer’s proceeds.
Michigan is one of the most active wholesale markets in the country, and Detroit anchors it: the metro carries some of the lowest entry prices of any major US city, which means a steady supply of distressed singles, two-flats and bungalows in Detroit, Warren, Dearborn, Flint, Pontiac and Saginaw. On low-priced inventory the spread is often a big slice of the sale price — the kind of margin you’d rather not expose on an assignment. A double close hides it. Funded amounts here frequently run $70,000–$250,000, with capacity far higher for suburban Oakland County and commercial deals.
How a double close closes in Michigan
Michigan is a title/escrow state — closings run through a title company or escrow agent, with no requirement that an attorney conduct the closing. That keeps the back-to-back logistics simple: pick one title company comfortable closing both the A→B and B→C legs the same day off a single title commitment, which most Detroit-metro shops handle routinely. Michigan is also a wet-funding state, so our money has to be in escrow before the deed records; we wire to the title company by 9 AM Eastern, the first leg records, the second records right behind it, and we’re repaid at disbursement. Confirm the title company does simultaneous closings before scheduling, and verify with local title counsel.
Pricing
Tiered flat fee, billed on the closing statement — nothing upfront:
| Funded amount | Fee |
|---|---|
| Up to $1,000,000 | 1.25% |
| $1M–$10M | 1.0% |
| $10M+ | Custom |
A $120,000 Detroit deal carries a $1,500 fee. You pay only on a deal that 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 approval
- Same-day closing scheduled on both legs
- One Michigan title company handling both transactions
No credit check, no income verification, no tax returns. Michigan note: on very low-dollar deals, ask us whether double close or a thinner-fee structure makes more sense before you lock the title schedule.
A typical Michigan double close scenario
You contract a vacant bungalow on Detroit’s east side at $55,000 and have a buy-and-hold investor under contract at $95,000 for the same afternoon. The $40,000 spread is most of the sale price — not something you want on one settlement statement for the buyer to see. You double close: we wire $55,000 to the title company by 9 AM, A→B records, B→C records moments later, and we’re repaid from the buyer’s funds. Two clean settlement statements, one protected margin.
Apply
Upload both contracts and your end-buyer proof of funds online. Roughly 48 hours to wire-ready, or same-day for complete files in before 11 AM Eastern.
Frequently Asked Questions
Why use a double close instead of an assignment on low-priced Detroit deals? +
On the low-dollar distressed inventory common around Detroit, Flint and Saginaw, the assignment fee can be a large percentage of the sale price — and that's exactly the spread you may not want sitting on a single settlement statement for the end buyer to see. A same-day double close keeps your A-to-B and B-to-C transactions separate, so the seller's price and your resale price never appear side by side. It also sidesteps lenders or buyers who refuse assigned contracts.
How does double close funding work with a Michigan title company? +
Michigan closes through title companies and escrow agents, not a mandatory attorney, which keeps the logistics straightforward. Both legs should run through one title company comfortable handling a same-day back-to-back close on a single commitment. Michigan is a wet-funding state, so our money must be in escrow before recording — we wire by 9 AM Eastern. Confirm the title company will do simultaneous closings before you schedule; most Detroit-metro shops do them routinely.
What's the smallest Michigan double close you'll fund? +
There's no hard floor, but double close funding makes the most sense once the funded purchase price clears roughly the mid five figures, since the 1.25% fee on a small deal can be modest in dollars but still worth it to protect the spread. Plenty of Detroit, Warren and Dearborn deals fund in the $80,000–$200,000 range. Very low-ticket creative flips sometimes fit our Echo or Stack products better — we'll tell you which structure is cheaper for your deal.
Apply for Double Close Funding in Michigan
Submit your application online — same-day decisions for complete files before 2 PM Eastern.