Application Processing
The following steps take place in connection with the processing an Residential Property Acquisition application:
• Applicant must complete initial online application request.
• We will email applicant our standard application to complete.
• Applicant mail their application and analysis fee to HT Powerbrokers, Inc.
• Applicant references are verified.
• Formal approval is issued.
• Approval certificate is provided.
• Investor is assigned to the applicant file.
• Consideration is submitted.
• Important applicant disclosures are presented and executed.
• Appraisal is ordered and issued in the name of the assigned investor.
• Investor secures a nonowner occupied investor loan for the property.
• Closing is scheduled.
• At closing, the assigned investor closes on the conventional loan. The applicant closes on
the trust agreement. The trust is executed.
• The applicant receives the keys to the property.
While the assigned investor in fact purchases the property and the property is titled to the investor, the actual property is placed in the intervivos trust with the applicant receiving first option on the trust.
The term of the trust is 7 years. The applicant may choose to cash out of the trust any time prior to then. After 7 years, the trust must be settled or reinitiated.