Bank Account Proof of Funds Fees
Standard Account w/MT-799, Ping, & Fax
- $1M – $9M: 10%
- $10M – $19M: 6%
- $20M – $49M: 5%
- $50M – $99M: 4%
- $100M & up: 2%
Blocked & Reserved Account w/MT-760 Verification
- 13% per 13 month term (4% escrow, 4% within 30 days, + 5% over 5 months)
13 Month BG or SBLC sent MT-760 Verification, Minimum: $3M+
- 13% per 13 month term (8% escrow & 5% within 30 days)
Brokerage Account POF Fees
Prices change with the markets. Our quotes depend on when you need the funds to be available. Here are a few sample quotes from the past:
- $1M: $100K
- $50M: $450K
- $100M: $800K
- $1B: $6M
We need the following emailed to us for a price quote:
- Last name?
- Amount needed?
- Term needed (we will assume that you need the funds for 60 days unless you tell us otherwise)?
- Do you need MT-799 verification?
Because of the risks involved with holding on to a property past closing, our “fee” is actually a preferred profit share (“preferred” means that we get paid first before any other distributions are made) as outlined below for transactions that we fund:
|Holding Period (Days)||Our Profit Allocation (% of Invested Capital)|
|0 – 1||1.25|
|2 – 5||2.00|
|6 – 15||4.50|
|16 – 25||5.75|
|26 – 35||7.00|
|36 – 45||8.50|
|46 – 60||10.50|
|61 – 95||14.00|
A few things to note:
- If the total profit allocated to us on any individual transaction is less than $2,000 based upon the schedule above, we will be entitled to a minimum preferred profit allocation of $2,000.
- If the property is held for longer than 95 days, we keep 100% of any profits from the deal to compensate us for the increased risk we have to take on.
- Since there is a much higher risk with properties held past the closing date, to cover due diligence costs (property valuation, market analysis, etc.) we charge an up-front fee of $400 for the first transaction, and $250 for each subsequent transaction.
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