Hard Money Basics
The Hard Money Closing Process, Step by Step
No jargon and no sales pitch. This is how we explain it at the Averlend desk, with the math that matters.
Hard Money Basics
The short version, then the substance.
Key Takeaways
- From term sheet to clear-to-close
- Closing day mechanics
- What slows closings, so you can avoid it
From term sheet to clear-to-close. Once terms are accepted, the lender orders title, confirms the collateral value, and prepares documents. On an Averlend file this runs in parallel, not in sequence, because every day matters to the borrower.
Closing day mechanics. You sign the note and the deed of trust at title, the lien gets recorded, and the wire releases. Bring your entity documents and your cash-to-close. The appointment itself takes under an hour.
What slows closings, so you can avoid it. Title surprises, missing entity paperwork, and insurance not bound. All three are preventable. Order your insurance early, have your LLC documents ready, and disclose anything recorded against the property up front.
The South Texas angle. Averlend underwrites this every week in Corpus Christi and across Nueces County. If you are working a deal in downtown or anywhere else in the metro, the theory above comes with a local desk attached: see our Corpus Christi lending page or send the deal directly.
Questions
Quick answers from the Averlend desk.
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