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Closing Advance never requires credit check!Go back to Homepage
Closing Advance never requires credit check!Go back to Homepage
We're here to help,
every step of the way!
We’ll simply count your advance toward your next closing. But this is rarely necessary, as 90% of the sales whose commissions we advance close on schedule.
Our online process will guide you through each step. You will need to provide the sale details of the property, including the contact information of the settlement company that is closing the sale.
After you’ve completed our simple automated process, we’ll email you and your broker our agreement for your e-signatures.
Once you and your broker have signed the agreement, and you have provided us all necessary supporting sales information, we will review your paperwork as quickly as possible.
We will contact you if there is a problem with your request or if we need more information. Otherwise…
We will notify you as soon as your advance is approved!Apply Now
No, we will never contact the buyer or seller.
Our fee includes a 20-day grace period in case of delay. That is, we allow 20 days beyond the estimated closing date for you to repay our advance.
We will wire your advance to you within 1 hour after your transaction has been confirmed with the settlement company or closing attorney.
At close of escrow, the settlement company will send us the portion of your commission that you sold to us. There is no further action required of you to repay us.
It should be possible to deduct our costs, if you use the proceeds of your advance for your business expenses.
Agents cannot authorize an advance on their commissions without your consent. The agreement you sign authorizes the agent to sell and assign to us his or her portion of the commission after any split or balance owing to your brokerage.
We advance commissions up to 90 days ahead of the scheduled closing date.
An agent can request in advance a percentage of their net earned commission after any split with their broker, up to $20,000 per transaction.
You, as the broker, retain the discretion to lower these advance limits. All you need to do is contact us.
As our partner, you can help your agents gain control over their cash flow with commission advances.
Your agents can then keep their business expenses from surpassing their monthly cash flow.
This reduced risk and stress allows them to keep their focus, which means more sales, more listings, and better productivity.
Yes, we advance to brokers who are also selling agents. However, there some restrictions on the type and size of these advances. Please contact us for more information.
Never! As the broker, we ask you to direct any future commissions earned by the agent to cover our advance and fees.
Even if the agent does not earn any further commissions, or leaves your company, you will never be held liable to repay their advance.
You may apply for a pending sale advance as soon as the following conditions are met:
Qualifying for a real estate commission advance is easy. There are no personal credit checks and only require:
We will wire your commission advance directly to your bank account. This is the only transfer method we use, as it is the most secure. Funding cut-off times are Monday-Friday: 4 pm Central for same-day transfers.
No, we will not pull your personal or business credit reports. This is one of the reasons our services are faster, simpler, and far more accessible than traditional bank loans.
All you need is an active real estate license and a bank account to qualify for a commission advance. There are no personal credit or income checks.
You can get a commission advance on a property with a signed contract, open escrow file, and a closing date up to 90 days out.
Our safe and secure online system makes it easy to apply for your commission advance within minutes.
Once approved, you will receive your final agreement to sign electronically. After the agreement has been signed, your broker will receive a request to acknowledge the advance.
Once we’ve received the signed agreements and confirmed the transaction with your settlement company, we will wire your advance in less than 1 hour. You can choose all or part of your commission, up to $20,000.
We receive the payment for your advance at closing directly from the settlement company or closing agent. There are no payments until your sale closes.
We’ll simply count your advance toward your next closing. But this is rarely necessary because 90% of the sales whose commissions we advance close on schedule.
Effective date: January 07, 2018.
This privacy statement discloses the privacy practices for ClosingAdvance.com.
Closing Advance is aware of the importance of maintaining the privacy of our customers and our website’s users. That being the case, we created this privacy statement to disclose Closing Advance’s information-gathering and dissemination practices. The principles described below form the basis of our business’s operation. With the following privacy statement, Closing Advance agrees to notify its users of:
_ Whatever personally identifiable information is collected from you via our website.
_ How the information is used.
_ With whom and under what circumstances your information may be shared.
_ What choices are available to you regarding collection, use and distribution of your information.
_ What security measures are taken to protect against the loss, misuse or alteration of information under Closing Advance's control.
_ How you can update or revise your information.
_ What means of recourse are available if you believe we have violated any provision in our privacy statement.
You can browse through
Closing Advance's website without telling us who you are or revealing any
information about yourself. However, if you want to use our website's services,
registration completed by providing your personal information is required.
We only use your personal information to assist us in servicing your account, improving our services, providing you with payment of your real estate commissions on a factored basis, and keeping you informed about any promotions you might find interesting. We will not sell, rent, or share your personal information with third parties. In the event that court orders or laws mandate Closing Advance to disclose personal information, we will do so only to the extent required by law.
To utilize the services offered
on our website, you must first complete the registration form. That will
require you to provide both personal and sales transaction information. The
personal information includes the customer’s name, home/business address,
home/business phone and fax numbers, email address(es), birth date, site
password, password reminder (mother's maiden name, birth city, pet's name) and
Social Security number, while the transaction information is comprised of the
buyer/seller names, property address, deposit amount, sale type (condo, new
home construction, town home, etc.), purchase price, closing entity (attorney,
title company), closing date, and commission earned.
This information is collected for several reasons. Social Security numbers are used for customer identification purposes as well as to provide tax-related information. The remaining personal information will be used to build a database of customer information that makes it unnecessary to re-enter the same information every time our services are used. We also use this information to contact you about the services on our site in which you have expressed interest. Transaction information is collected so we can verify that a valid sale was completed.
It is unlikely that, in the future, Closing Advance or the greater substance of its assets are acquired but, were that to occur, the organization’s business, including customer information, will be transferred to the acquiring company. However, in the even more improbable event that Closing Advance files for bankruptcy or proceedings are commenced against Closing Advance in bankruptcy under federal or state bankruptcy laws, customer information will not be included among assets sold, auctioned or otherwise transferred to any third party in satisfaction of debts owed by Closing Advance .
We use Internet Protocol (IP) addresses to analyze trends, administer the site, track users' movements, and gather broad demographic information for aggregate use. IP addresses are not linked to personally identifiable information.
We are the sole owners of our customer list, and do not sell, rent, or share personally identifiable demographic information with our partners, affiliates or advertisers.
This website contains links to sites belonging to corporate and alliance partners. The former are external companies with whom we share customer targets with the goal of developing mutually beneficial relationships. Alliance partners are brokerage houses that allow us to market our services to their agents and brokers as bound by contractual agreements. It is our aim to protect our customers through requiring every potential partner to sign an agreement as to their adherence to privacy policies that are consistent with our own over the entire course of our partnership(s). However, please be aware that despite our best efforts, ultimately, Closing Advance cannot be held responsible for those sites’ privacy practices. Thus, as our privacy statement is only applicable to the personally identifiable information this website itself collects, we encourage our users to be aware when they leave our site and to read the privacy statements of each and every website that collects information.
The Closing Advance website uses high-grade, 256-bit key encryption, as indicated by the security lock next to our URL. Any information you enter is safe and secure. Both on- and off-line, Closing Advance takes every precaution to protect our users' information. The servers on which we store personally identifiable information are kept in a secure environment. In addition, we ensure our staff's trustworthiness; only employees who need the information to perform a specific job function have access to personally identifiable information.
In order for Closing Advance to properly fulfill its obligation to our customers, it is necessary for us to independently verify each sale contract with the attorney, Escrow Company or Title Company involved in the closing of a sale. We do this by calling the contact name on the customer's sale contract, informing them that we are funding a portion of the sale’s commission on the sale and requesting confirmation that they have opened escrow and are acting as the closing entity. We never contact buyers or sellers, nor do we share any personal information.
We send all new members a welcome email to verify their account. Established members will occasionally receive information on promotions, for example, savings on certain products and services. Out of respect for the privacy of our customers, we will never sell, share, transfer or disclose our customer list. We also present our customers the option to not receive these types of communications. Please see our choice and opt-out information below.
If your personally identifiable information changes (such as your home address, phone number, etc.), or if you no longer require our services, you can correct, update or remove any personal data provided by calling us at (888) 220-4610, emailing us at firstname.lastname@example.org, or by mailing us at Closing Advance, 100 Merrick Road, Suite 508E Rockville Centre, New York, 11570.
As mentioned, Closing Advance does not rent, sell, or share users' personal information with third parties. However, we regularly send users emails, marketing letters and text messages to inform them as to the status of their advance transactions as well as providing information about promotional materials. The maximum, combined pieces of correspondence a customer can expect to receive from Closing Advance is 4 (four) per month. In terms of text messaging, message and data rates may apply. In each case, customers are given the option to “opt-out” of receiving future information, either by replying to the email with the word “remove” in the subject line, using the opt-out link found in each email, or by responding to a text message by typing the word “stop” to end. You can also opt-out of receiving any correspondence from us by emailing us email@example.com and typing "remove" in that email's subject line.
Closing Advance does not provide services to, nor acquire information from, children under 18 years old.
Even if you plan everything perfectly, there are times when the funds from your commission are still pending, but your bills are due. That’s exactly why we’re here! To help you cover these gaps.
Our mission is to provide a fast, friendly, easy-to-use process in the commission advance service industry. We are committed to maintaining the highest standards in security to better serve our clients in the real estate community.
With combined experience of over 30 years in real estate law and lending, Closing Advance knows the ins and outs of real estate transactions. Our experience means that you have the best options for early access to your commission.
Utilizing our network of real estate attorneys, we ensure that you have a safe and secure transaction every time.
With 20+ years of mortgage banking experience, Alan knows the real estate market and the difficulties that sometimes arise. Starting at the early age of 14, he has devoted his life to real estate. He is a FICO-certified professional, ranked 16th in the nation in 2009 by Mortgage Originator, and the author of How to Achieve Perfect Credit.
With 30+ years of real estate experience, Jeffrey knows the ins and outs of real estate law, mortgage banking, and compliance. His experience insures that every real estate Agent receives the highest level of professionalism and transparency.
100 Merrick Road, Suite 508E
Rockville Centre, New York 11570
Closing Advance website uses high-grade, 256-bit key encryption, as indicated by the security lock next to our URL. Any information you enter is safe and secure. Both on- and off-line, Closing Advance takes every precaution to protect our users' information. The servers on which we store personally identifiable information are kept in a secure environment. In addition, we ensure our staff's trustworthiness; only employees who need the information to perform a specific job function have access to personally identifiable information.