Your funding request has been conditionally approved through the Bridge2Sell program. Here's exactly how it works, what you receive, and how you keep control of your home's value.
You access your equity now, stay in your home, and hold a locked-in option to buy it back or sell, with any upside remaining yours.
For the security of both parties, the deed is held in a trust that exists solely for this transaction and dissolves upon repurchase or sale. You and Bridge2Sell are the trust's beneficiaries: you keep equitable title and the right to live in your home, and Bridge2Sell holds a beneficial interest equal to the repurchase amount.
You sign a lease granting you full possession for up to 18 months. Your lease payments are prepaid and built into the transaction, with nothing new out of pocket each month. Any prepaid months you don't use are prorated to your sale date and credited back.
A binding Option Agreement locks in your price. At any point within the term you can buy your home back at the locked-in option price, or sell it to a third party. If you sell, you receive the net proceeds above the option price. Either way, the property is sold no later than 18 months.
If the collateral must be liquidated to satisfy the repurchase, Bridge2Sell and/or its affiliates are entitled only to the amount agreed in this proposal. Any equity above the repurchase amount belongs to you. Any appreciation in the value of the property also belongs to you.
THIS IS NOT A PERSONAL LOAN, MORTGAGE, LAND CONTRACT OR OTHERWISE. YOU SHOULD CONSULT WITH AN ATTORNEY TO UNDERSTAND YOUR RIGHTS AND OBLIGATIONS UNDER THE CONTEMPLATED TRANSACTION. YOU MAY ALSO WISH TO CONSULT WITH A FINANCIAL, TAX, OR REAL ESTATE PROFESSIONAL PRIOR TO SIGNING THIS PROPOSAL OR THE PURCHASE AND SALE AGREEMENT.
All figures are estimates, subject to change based on final title, insurance, and tax costs.
| Funding provided on your behalf | $600,000.00 |
| Estimated closing costs & prepaids paid at closing | |
| 18 pre-paid lease payments | $123,730.95 |
| Estimated 1-year property tax in advance | $6,500.00 |
| Estimated 18-month insurance premium | $4,000.00 |
| Estimated title fees & closing costs | $4,000.00 |
| Administrative fee | $1,997.00 |
| Estimated purchase amount | $740,227.95 |
| Fees | |
| Option fee (20%) | $148,045.59 |
| Exit fee (1%) | $7,402.28 |
| Fees subtotal | $155,447.87 |
| Total | $895,675.82 |
| Credits, if satisfied before Month 13 | |
| 6 pre-paid lease payments credited back | -$41,243.65 |
| Estimated 6-month insurance premium credited back | -$1,333.33 |
| Credits subtotal | -$42,576.98 |
| Estimated option to repurchase: Year 1 | $853,098.83 |
Term: 1 year, with an automatic 6-month second term (months 13-18). During the second term, all fees and payments are prorated until the time of sale (see the schedule on the next page).
Payments are prepaid at closing. After 12 payments, anything unused is prorated to your sale date and credited back.
| Month 13 | $873,148.99 |
| Month 14 | $893,199.14 |
| Month 15 | $913,249.29 |
| Month 16 | $933,299.45 |
| Month 17 | $953,349.60 |
| Month 18 | $973,399.75 |
Monthly proration is the sum of your annual option fee, your second-term insurance cost, and your monthly payment cost, estimated at $20,050.15 per month during the second term (months 13-18), applied only until the time of sale.
This restates the figures on the prior pages so they're easy to follow. Please review each line and initial to confirm your understanding.
| Definition | Amount | Initials |
|---|---|---|
| Total funding provided on your behalf | $600,000.00 | |
| The estimated monthly lease payment | $6,873.94 | |
| The estimated closing costs & prepaids total | $16,497.00 | |
| 18 months of lease payments included in your purchase price | $123,730.95 | |
| This brings your estimated purchase amount to | $740,227.95 | |
| Your estimated annual option fee & exit fee subtotal | $155,447.87 | |
| The Option Repurchase amount in Year 1 (after credits) | $853,098.83 | |
| Monthly proration (option fee + second-term insurance + payment, monthly) | $20,050.15 | |
| The Option Repurchase amount during the second term | See Months 13-18 schedule |
All terms in this proposal are estimated and subject to change based on market pricing of title services, insurance costs, and tax rates. Seller will pay prorated property taxes at closing.
Seller has the option to renew the Lease Agreement and the Repayment Fee Option Agreement for a single additional six (6) month second term, for a total term of up to eighteen (18) months. Fees charged in year one are prorated on a month-to-month basis through the six (6) month second term until the time of sale. All fees related to the Option Agreement are deferred and paid upon exercising the Option Agreement at closing, by purchase or sale of the property.
In the event the property is liquidated due to a default, the client agrees to a 2% fee based on the final sale price. This fee will be deducted from the proceeds of the sale.
The Settlement Statement (ALTA or HUD) prepared by the title company or closing attorney reflects the final figures. It is your responsibility to review it carefully to ensure all charges, credits, and terms are accurate. If you disagree with any amount, contact your sales representative before signing any closing documents. By proceeding to closing, you acknowledge you had the opportunity to review the Settlement Statement and agree with the final terms.
During the review period and prior to closing, you agree to grant Bridge2Sell (or a designated third party) access for inspections and interior/exterior photographs, to ensure accuracy and facilitate closing. After you submit this information, we send a purchase agreement; once signed, title work begins. Funding typically occurs within 30-45 days and can close in as few as 14 days depending on title work. This is an arms-length transaction; if both parties do not agree to the final terms, neither is obligated to proceed.
I/We, the undersigned, hereby agree to the terms and conditions of this preliminary conditional proposal as set forth herein. I/We have the authority to sign this Proposal on behalf of the related entities.