Just 2 Minutes - Interviews by Kamil Sarji

8-How to Make a Cash Offer Using a Standard Mortgage Loan - Insights with David Frankel

• Kamil Sarji • Episode 8

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Welcome to Episode 8 of the "Just 2 Minutes" podcast! This episode is a must-listen for anyone navigating the competitive real estate market. Host Kamil Sarji, broker-owner of Gold Door Realty, sits down with David Frankel from Annie Mac Home Mortgage to uncover a game-changing strategy for homebuyers and sellers alike.

Episode Highlights:

  • Introduction to the Episode: Kamil and David kick off with a light-hearted exchange and explain the unique format of the "Just 2 Minutes" podcast, setting the stage for a deep dive into the main topic.
  • The Cash Offer Dilemma: Kamil discusses the challenges buyers face when competing with cash offers, which often leave traditional buyers out in the cold.
  • Annie Mac’s Innovative Solution: David introduces a revolutionary program from Annie Mac Home Mortgage that allows buyers to make competitive cash offers using a standard mortgage loan. This program, backed by Cash2Keys Private Equity, guarantees the purchase, offering a secure and compelling alternative to traditional financing.
  • Program Mechanics: Detailed explanation of the approval process, proof of funds, and the guarantee provided by Annie Mac and Cash2Keys. Learn how buyers can bypass mortgage contingencies and compete effectively against cash offers.
  • Benefits for Buyers: Discover how pre-underwriting and proof of funds can level the playing field, giving buyers a significant advantage in a tight market.
  • Benefits for Sellers: Explore how the Buy Now, Sell Later program assists sellers in making cash offers on new homes while guaranteeing the sale of their existing property. This segment addresses common seller concerns about timing and coordination, providing a stress-free solution.
  • Real-World Applications: Kamil and David delve into real-life scenarios, discussing the practicalities and benefits of these innovative programs. From waiving appraisals to handling closing costs, this episode covers all the bases.
  • Final Thoughts and Insights: The episode wraps up with key takeaways, emphasizing the transformative potential of these programs for both buyers and sellers. David shares words of wisdom and practical advice for navigating the current real estate landscape.

Whether you're a seasoned agent looking to stay ahead, a newcomer eager to learn, or a client seeking reliable real estate advice, "Just 2 Minutes" offers a wealth of information in a convenient and enjoyable format. Join us as we explore tips, tricks, and insights from industry leaders and professionals that can help you navigate the dynamic world of real estate.

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Welcome to Just Two Minutes. I'm your host, Kamil Sarji, the broker owner of Gold Door Realty in North Smithfield, Rhode Island. And I have David Frankel here today from Annie Mac. Annie Mac Home Mortgage. Annie Mac, we got your back. Oh, I like that. I should have one for Gold Door. Gold Door, don't stare at Who needs more? Alright, I gotta work on that. Gold door, hardwood floor. We're your door, not your floor. When you need more, go to gold door. Check out gold door. Alright, so, just two minutes. It's not the whole show is just two minutes. Okay. Because everybody's like just two minutes. It's actually it's longer than two minutes How can you get your point across and how can I interview you in two minutes, you know? So to just two minutes is basically me asking random questions for two minutes. That's it. Just for two minutes Okay, we don't end the show after that. Oh, all right. We keep talking about other stuff serious stuff So it's like the two like two minutes like you get the lightning round. Mm hmm two minute lightning round. Mm hmm, and then Whoo Yeah. Okay. We're done. That was stressful. Now we, now that was hard. Yeah. Now we talk. Yeah. Okay. Got it. It's cool how it's designed. I like it. So I'll put this here, then we can see it. Okay. And then, all right. Ready? Alright, go. Um, have you ever donated blood? I have. Nice. Yeah. Would you donate blood to me? I would. Okay. Um, four ounces. Sure. Like, if I, just to have, not to, for my body, like just to have, and say I have like four ounces of blood? Sure. Okay. Awesome. Yeah. If you were to save one thing in a fire from your house, what would you save? Children. One thing. Of course the children ran out. Okay, they're gone. I hope so. The kids are safe. Wife. Uh, that's a thing? She's good. Yeah. Yeah. Oh no, pick one. Like an object. Object, yeah. Um. My piano. Okay. Um, Heavy. Do you, are you an early person? Uh, or a late night person? I'm both. Both. Awesome! Yeah. That's what I am, and I had that written, and I'm like, very cool. Okay. Um, do you believe that dreams have hidden messages? Sometimes. What's a word of wisdom that you can give me? Um, Uh, Uh, Eat. Eat what? It's just one word. You want a sentence? Oh, sorry. Words of wisdom. Okay, um, Don't mistake activity or movement for progress. Damn, that's deep. Um Denzel, thank you. What's your favorite superstition? Um, uh, saying your name three times is a jinx and you can't talk. Okay. That's not really a superstition, um. Okay, if you walked under a ladder. Walking under a ladder. If you walked under the ladder. Black cat crossing the path. No, no, you know what? Don't break a mirror. Wow. Are there more we can do? Because this is a lot of fun, actually. Oh, no, that's it. You gotta come back again another time. We'll do another episode. But, for now, wow. Eat. What'd you think? I love it. I think it's great. Yeah? Adrenaline's pumping? Oh, I'm fired up. Yeah, it's fun. Now it's time to relax and chill and talk about real estate. So speak, speaking of real estate, Annie Mack, I like that. Yeah. Is that something they came up with or you came up with? No, I came up with it. It just sort of made sense to me. And I asked someone about it. They're like, I'm like, yeah, sure. I guess you could say that. It's not like an official slogan, but I like it. back. Beautiful. Pretty simple. So as a real estate agent, we know a lot of lenders obviously, because of the way for lenders to get a lot of the businesses working with realtors. Obviously realtors are the first stop. So many lenders, so many different products that they have. And in this market, It's crazy because, you know, I've seen it a lot. We're putting in offers and they don't get our offer. And I check in with the agent like, Hey, how come you didn't pick our offer? How could we do better? And they say, let's cash offer. So all these people with cash offers are coming in and just like sweeping up everything. Yeah. That's a first. For me, I'm picking a cash offer. I present the offers to the seller and then the seller, you know, we talk about it and we end up getting the cash offer because it's like, it's perfect. Yeah. So unless I'm going with a hard money lender or unless I have. 500, 000 in my pocket, I'm going to go for that. So what are things that someone could do to be able to get that home? Well, it's funny you should ask. One of the reasons I joined Annie Mac is because they have a solution to that problem. We have a solution to that problem. Buyers are getting fatigued. Buyers are getting tired of competing in a market that they cannot compete in. Cash offers, it's just the, like the, it's a benchmark. 33, I think 33 percent of transactions nationwide are cash off, are cash transactions. And so everyone else, you put an interest rate and inventory, these issues that are facing buyers today with this, so much demand and so few houses to choose from, that buyers just don't, you know, it's hard to compete. There's so many people out there and there's, those offers that have cash, they're at the top of the list. So we have a program that allows buyers, who aren't all cash, to make a cash offer on the property. And so now, this is for a buyer or a seller. If you're buying, you can make a cash offer as a purchaser. If you're selling, you can make a cash offer as a purchaser on your new home. And you don't have a mortgage contingency or a suitable housing contingency on the departing property. Okay, I want to talk about sellers in a second, but let's focus on the buyers. Yes. So you said that you have a program where the buyer can go in and offer cash. The buyer can go in and make a cash offer. Our program, we guarantee the purchase. So we sign a contract. You get an addendum to the contract that gets submitted with the offer. Annie Mack and his partner company Cash2Keys Private Equity are guaranteeing the purchase of the property on a date. The buyer, something happens, the buyer, you know, loses their job. Financing falls through. There's no mortgage contingency. We're buying that house. So the seller it's even bet to me, it's even better than a cash offer, because we're guaranteeing the purchase. Cash offer, the buyer can flake. You know, just like any right? So this is even beyond, not only is it cash, but it's also guaranteed. So I think that makes it very competitive. Okay. So let's go through the process from the beginning. Someone comes in, applies, the same approval process? Same approval process. Okay. You give them a proof of funds? We give them proof of funds. So the Cash to Keys private equity company has many, many millions of dollars in the bank. I think it's a big number. I like them. I like them. I like, I like them too. That sounds nice. Yeah, it's great. They have a lot of money in the bank and so you get this The offer letter that goes with the contract shows, the proof of, the proof of funds shows this big bank account. So you get the proof of funds with this multi million dollar bank account from a private equity company that's guaranteeing the purchase. So it's buyer, buyer can't just say, Oh, I don't like the pink color. You know, Oh, there's two steps instead of three at the entrance. I don't like it. We're buying the house. It's a guarantee for the seller. So it's really, I think, it's powerful. It's powerful. It's compelling. Oh my gosh. Yeah. And there's no extra rate, charge to rate. There's no extra cost to it. I mean, there are rules. There are ways that we have to structure the contract and there's some parameters, but there's no extra cost. So they're giving the proof of funds for this specific house that they put an offer on. Yes. It's not multiple, like any house, go out there, any house you want, you can put offers on. Any house that works. Who verifies if it works? I verify it as a, as a loan officer. I'll run the numbers. I'll look at the taxes. Look at the insurance. and do, you know, the PITI, Principal Interest Tax Insurance. I'll do the math to make sure that the loan works and my peer, you know, the program we're working with Cash2Keys, we'll show them the con, we'll give them the contract, they'll review it and make sure the terms are okay. But as long as the numbers work from a debt to income perspective, an LTV perspective, credit score perspective, and there's no other requirements for credit score, we run the findings in our system. We run Fannie, Freddie, and so we do conventional and VA. Okay. So whatever you can qualify for, if the house works, we can use this to, we can use this offer. Conventional and VA. Conventional and VA. Okay. And for VA, I think it's super sexy because in this market, I know, and I think realtors in general would agree, VA offers, for some reason, they get, it's less desirable than a conventional. VA and FHA offers tend to be put aside. They look at them as more strict, there are too many hoops to jump through, which is totally false. But this works for VA, you know, I think this gives VA buyers a real leg up. Yeah, very interesting. Okay, so back to the couple steps back. Yes. You're checking to make sure the loan to value, what should the loan to value of this house be? We can go as low as three percent. Okay, goodness. So if you're a first time home buyer, we can go for, you can put three percent down. Okay. That's as low as conventional rules allow. And more than that, if you can, put down more. And you said you're checking to make sure numbers work for them, meaning that they can afford the monthly payment. Yeah. With the interest that's not with hard money or not with cash. No hard money. With whatever the prevailing rates are at the time. Just like a normal pre approval, just like a normal pre approval, normal process. Except the other thing that we do is we pre underwrite the buyer. So in some, in a lot of cases, at least for me, pre underwriting the buyer gives it an additional level of security. Yeah. The underwriters have actually seen the, like a person has looked at the file. It's not just an automatic system. Most lenders will just use an automatic system, which is great. But once you put it in front of an underwriter, a human being who's going to do the analysis and say, okay, yes, this works. That's pre underwriting. So all those files, all those borrowers get pre underwritten. So we know that the income, credit, and assets are all there. We know it's gonna work. Which is why we can waive the mortgage contingency. Okay, and do they, right before putting the offer in, or at the time of putting in the offer, is that where they have to come up with 3 percent down? Like, how do you guys get that? Because if they're buying this cash, they're taking a huge risk, the capital company, they're taking a huge risk because they're offering 100 percent on this property, assuming that and praying that the, so what's the, that they're going to get the 3 percent or whatever. Yes. So, how do they protect themselves? Um, prayer. Believe in me or if someone doesn't believe it's a, it's a good question. That's . What if someone doesn't believe in, uh, everyone will believe there's no choice. Yeah, so it's a good question. So we ask for what I call a security deposit. That security deposit is 2% of the sale price. Okay. So, in addition to the 3 percent down, you have to have money for closing costs. So, 3 percent down plus closing costs, plus this 2 percent security deposit. Before the offer comes in? Before they put in the offer? No, not before the No, nothing happens until a contract is signed. Okay. When a con Until a contract is signed Once a P& S is signed Versus a sales agreement. We have 48 hours to get the EMD out and this 2 percent deposit. Now that deposit Wait, time out. They're also doing the EMD? Oh, no. Well, you have to make an earnest point. You have to Okay. You have to also We have a minimum requirement for the EMD. It's 1 percent of the sale price. Okay. Which I find in many cases is the minimum that people are using. Okay. I've seen people use 2, 3, 4 percent EMDs. So as long as it's a 1 percent EMD, that can go to the realtor's office, the way the normal procedure From the buyer. Goes to the realtor's office, they hold it in escrow. That 2%, this is after contract, so until you sign a purchase and sale, until an offer gets accepted, we don't have to, no money is exchanged. The same way, like, the same, right? The same normal way. That 2 percent deposit is the security blanket, so to speak. And it works in a couple ways. But, in terms of the transaction, that 2 percent goes to the attorney. Doesn't go to the bank. Gets held by the attorney. Held in escrow by the closing attorney. And when the purchases come, when the loan closes All that money comes back to the borrower. So that 2 percent goes into the bank, goes into the attorney's escrow account, holds it there. When we close, they get a credit at closing, whatever the, you know, against closing costs. Let's say it's a 500, 000 house. You put in 2 percent would be 10 grand. So you give 10 grand to the attorney, they hold it in escrow. That 10 grand will go against your closing costs. So it'll offset, so you won't have to bring that 10 grand out of pocket. And anything left over is a check that's returned to you at the closing table. So you put money in as a deposit, gets held by the attorney, not the bank, and then it gets returned to you when we close. So you keep, there's no charge to use the program. You keep all that money. It's like an extra security deposit. So someone comes to you and they're like, yeah, I want to do this cash deal. Yeah. You're checking their numbers. You're also making sure they have the 3 percent in their bank account. They have the 3 percent for the down payment. And the closing cost. Plus the 2 percent deposit, so look at it as 6%, something like that. I mean, closing costs will be more, so having all those, you have to have enough money for all of that stuff. Okay. Reserves, if needed, depending on the transaction, usually not with a single family house, but it depends. But that's part of my analysis, make sure they have enough money to cover it. But there's no weather, there's no fee, there's no hit to the rate. It's just a great program. How fast did they close? I was just about I can read your mind. As, like, you can see it in my brain, it's like It's like, nah, I have to talk about the class next week. So the program requires 20 days. 20 day close minimum. But, if we need to move fast, we can. That's the general standard is 20 day close. Okay. Now the scary question. Well, actually, one of the two scary questions. Yes. Go. Ah! Inspections. You can wait the home inspection. Okay. But do people, uh, can they still, uh, Cause I mean, within 20 days, goodness, you have your 10 days of, uh, doing your inspection, and then you have 10 days to close after that. So you're at the 20 days. Do you wait for the No. inspection to be good before moving forward? You know what I mean? I know what you mean. I think with the 20 day close, the timeline is compressed. So you can't wait for one thing to happen to do the next. Okay. Once we get the purchase and sale, we do have to order an appraisal. Okay, that's another thing I was gonna ask. Right. Most of the time, we're gonna have to order an appraisal. How fast can you get them in there? Cause We're gonna rush the appraisal. Okay. So we're gonna get that done quickly. And it's not much of a charge to rush an appraisal. It's like an extra 150 bucks, 100 dollars, 100 to 200 dollars. If you pay me 150 bucks, I will rush anything. Oh, come on. Okay. Alright, even like a hundred, even a hundred. What do you want? Yeah, alright. McDonald's? I'll go run and get it for you. I don't eat McDonald's, thank you. Oh, you gotta try it. The shakes. Really good. The shakes are good, man. The fries are amazing over there. Great fries. So dangerous. I know. Try to stay away. Black and white shake. Oof. But, so, the appraisal can be waived. There's two things you can do. Waived? Waived. The appraisal can be. In most cases, we're going to have to get an appraisal. But, in order for an appraisal to be waived, in general, we have to at least have what's called, we have to get a waiver in our automated underwriting system. So we have, lenders have these systems that we use to run the loan through, see if everything works. If we put the address, in this system, which we can do, not everybody can, but if you put the address in the system, I can check to see if the system will say, you know what, David, you're putting enough money down. This property has a particular kind of history. We can waive the appraisal. The system will tell me, and it usually requires at least 20 percent down. Once you're putting more than 20 percent down, then you get into this appraisal waiver world. These days, waivers are harder to come by, but if we get that waiver initially, we can make the appraisal in the contract for informational purposes only. We still have to order it, but you can put in the contract that you're waiving the obligation to base the loan, the price on the appraised value, but it's not common. I think the assumption should be that we have to have an appraisal. There is another level you can take it to if you put a 20 percent EMD, meaning instead of 3%, which is to me is big, but hey, you know, honestly, it's going to the lawyer. Right? You love the house. You want the house. It's going to a lawyer in escrow. You're gonna buy the house anyway. What's the difference if it's held by a lawyer or held in your bank account? Sounds scary and crazy. You've already waived your mortgage contingency. You're all in. So what's the difference? You, if we get the waiver in the system and you do that, there's no, we can waive the appraisal. Okay. All right. Anyway. Okay. I'm a process guy. I love coming up with like, simplifying complicated things and coming up with solutions. I'm gonna, tell me if I'm wrong, okay? Yeah. I'm gonna go through the process. Go. You tell me if I'm wrong. Okay. Maybe some listeners are already thinking the same thing. All right. Purchase and sales agreement gets signed. Yeah. Awesome. Let's start the process for the cash. Cash offer. Cash offer. And at the same time, let's start the conventional process also. And then, but let's rush the heck out of the conventional process. Oh my gosh. Wow. We can get this closed in 20 days with a conventional. Awesome. We don't have to use cash. Close it conventional. Everybody's happy. Is that maybe how it happens? If it didn't close in 20, if they couldn't get the conventional ready in time, the cash offer does close on the 20th day. Am I giving away too much of the, no, there's no secret sauce. I mean, you show your belly. I show my ideas. There's no secrets. We're among friends. They don't know about, um, um, now the world will know. Oh God, I regret it. Yeah, so, our goal is to close a loan. We are, the company is guaranteeing the seller that we'll close on this on a certain day. There's no, in terms of the process, it's all going, the timeline isn't going to change because we have the cash to keys program, or we're trying to close a conventional loan. If you don't want to use the cash to keys program, then the timeline really won't change much because you've been pre underwritten. So, we're The timeline isn't gonna, you know, we can still, if it's not cash to keys, we can still make a 20 day close if you have to. But once you're in contract and you've signed the contract with cash to keys, if you're starting the process that way, we should finish the process that way. Because that's what the seller is expecting. And that's what we've promised. And to be honest, there's no difference. The only, in terms of the process for the buyer, except for that deposit that you have to give to the attorney. Maybe I'm not understanding your question. Did I answer your question? Eventually this. This cash deal will need to convert to a conventional. No. Okay, so. Right. So the cash purchase is the guarantee. It's not in other programs that people have out there. The cash entity is buying the house and then you sell it back to the buyer and get a mortgage. We're doing it the opposite way. We're having the cash guarantee so that on June 20th, that's our closing date. If for some reason, Johnny and Sally can't get it together, there's a problem with something in their application, we need an extra week. Cash or Keys Private Equity is guaranteeing the purchase on that day. Something happens, Johnny and Sally lose their jobs. Cash the keys is right there, we're gonna buy that house. Wow. That's the guarantee. And then they get in touch with me to help them sell it? Absolutely. Yes! All right, I'm gonna take down their number. Cash. Signed up. Camille signed up. K E E Y. Now he's got your back. K E E Y S. Okay, got it. I wrote it down. Interesting, okay. That's very cool. It's So really, so the goal is like, we're trying to do two things. We're trying to solve a problem for buyers and we're trying to, we're trying to create something for sellers that's compelling. And I think for sellers, if you see a guaranteed purchase price, Right? If you see a guaranteed closing date, and you see a bank account with 90 million dollars in it, that this is going to execute, and you see no mortgage contingency, that's a committed buyer. Oh yeah. And that's, we call that a cash deal, because you are going to get the, you're, anything goes wrong, you are getting a cash purchase from Cash to Keys that is contractually obligated. And you as the buyer, we're going to give you a mortgage from Antimac. Okay. From the day that they signed the contract. You know, they start dancing until the 17th day. Yeah. Right? Which is when they, do they sign disclosures? Closing? Yeah, it all happens like a regular mortgage. Regular mortgage. Everything happens like a regular mortgage. What's the percentage? Is listed normal percentage? Prevailing? You mean the rate? Yeah, prevailing rates are ANIMAC super rates. Yeah. There's no charge to the interest rate. There's no requirement for debt to income ratio in LTV. There's no extra points. There's no extra fees. You know, you get all your money back at the closing table. Wow. It's clean. That's so cool. Yeah. So, closing day, they get the keys, and they pay their mortgage to Annie Mack. Wow. We got your back. Annie Mack got our back. We got your back. For real. Yeah. They got our back. Our backs. Our backs. All backs. All backs. Gotten. All backs. All backs. The owner is named Olbeck of Cash2Games? Yeah, Billy Olbeck. Billy Olbeck. Sorry, guys. Sorry. So I asked a lot of questions. Yeah. And kind of drilled down to everything. Do you feel like I answered the questions? I'm worried that I missed something. Did I miss something? Okay. I mean, no. I mean, that's the heart and soul of the program. That's the heart and Well, we also didn't talk about sellers. Oh. If I'm on the seller side, I'll be like, Yes, Cash2K E E Y S. We'll do that, not K E Y S. That's a different company, you know what I'm saying? I do know. All right, so sellers, what's up with that? They, closing day, they get their money? Like a normal Normal, you get paid. What were you gonna say about the So, the program that we've been talking about, we call it our Cash Offer Program. Oh, okay. That's on the buyer's side. That's on a buyer's side. But how can a seller benefit from using this for themselves? Exactly. So, for sellers, we have a different version of this program. Same concept, but we call it Buy Now, Sell Later. Essentially Same process, you get pre approved, you're gonna make a cash offer on your purchase, the house that you're going to live in. In this case, Cash2Keys Private Equity will actually buy the house and then sell it back to you. They'll buy the house you, they want to buy, the sellers want to buy. The new house. That they want to move to. Right. So, in a, when you're a seller, and you have a home to sell, and you want to buy a house, You have to sell the house you're in, move out of it, and buy that new house and move into it. Only if the house sells will we buy the new one. That's the contingency. Typically the contingency. Yeah. So, in an ideal world, the seller sells and buys at, you know, on the same day. Simultaneous close. Yeah, funds go here. Selling this house, buying this house, simultaneous close, transfer here, money goes from here to there. Miracle when that happens. Wonderful situation. Sometimes, and I've had this recently happen, you sell, the buyer has a home, you know, situation where they got a place to stay so they can sell, collect the funds, stay in this temporary location, and then close on the new place. But for a lot of people, you got families, elderly folks, that situation is difficult to find. It's hard to get that. It's hard for people to have that convenience. So how do people sell their home and buy the new home without being homeless in the interim, being stuck? And that's what, that's how this program works. Their bridge loans also serve a similar function, but they don't, I don't think they answer all the questions. So, what this program allows you to do is make a cash offer on your new home with no mortgage contingency and no suitable housing. So you can, with this program, you waive your financing contingency on the purchase. You're making this cash offer, same deal, 20 day close, same terms as a cash offer. No mortgage contingency, no suitable housing contingency. Because you don't, because Annie Mac, because uh, cash to keys private equity is guaranteeing the purchase of your departing residence. So we're guaranteeing that we're going to buy that in six months if you can't sell it That's part of how we cover ourselves part of the contract So now the seller can sell their house and not worry about taking a lower offer that might be less money But they'll work with my suitable housing need and I don't have to have that contingency So i'm going to pay for that convenience by accepting a lower offer and that same seller If they can't make this cash offer, and they have to have this contingency, they gotta offer on their new home. Go crazy. How do I compensate for the fact that I have this suitable housing need in my offer to this new place? Well, I'm gonna offer 100, 000 over asking. Or I'm gonna go, what else can I do to compensate for the fact that I have this thing in my offer that is gonna generally hold me back. So having this program, I have no mortgage contingency on the purchase. If I have to go over, I go over, but I don't have to overpay to overcompensate for this thing I have in my requirement that I have. On the sell side, I can take an offer that is more money. I don't have to have somebody, I don't have to take an offer based on this suitable housing need. Yeah. So, I think you can sell. Save money on the purchase. You can make more money on the sale. And you have a much more, you're much less at the mercy of the market. Hmm, that's amazing. And I think it gives you more peace of mind. You know, less stress. Okay, I have this program. I know I can do that. I know I can do this. I don't have to worry as much about the timing of everything. I think And it just puts your, you know, your offer is going to get on the top of the stack. Yeah. It just is. Wow. Uh, great program, great setup. Everything is like, um, it's cool. Cool to have another creative way of putting offers together. And again, there's no hit to the rate. The rate is, it's not like we're charging a higher interest rate. There's no, I mean, there's a, there's a deposit that we talked about before. There's a similar structure. Oh, that money is going back to, the money goes back to you. Yeah. Now, if, on the sales side, if you're the seller who's doing this transaction, and Annie, and Cash2Keys has to buy your house, they're gonna keep 1%. You're gonna give them 2%? They're going to keep 1 percent if they have to buy the house. So there are some costs. And what I do with my clients is we look at the costs. When you're in the cash offer situation, when you're a buyer, it's really clean and straightforward. There's really very little concern about not making that closing date. When you're on the seller, there are some costs. And we analyze that. We analyze how much am I gonna save on the sale, and how much am I gonna save? How much more am I gonna make on the sale? How much am I gonna save on the offer? When they buy the seller's home, though, what if they have like 200, 000 in equity? They're still buying it at 1%? They're keeping the 1 percent if they do have to buy it? If Cachiquiz has to buy the house, then they keep, that's, yes, they keep 1%. And here you go, here's, here's 200, 000 in equity they had minus the 1 percent and you have that equity when you yeah, wow, you have that equity cool That's awesome. Such a great program. And yeah, I'm glad we talked about I'm glad we went back to the seller section Yeah, too because that's huge I think the seller side is really compelling because I believe that there are a lot of sellers on the sidelines I mean you tell me realtors go out on pitches with sellers, you know, I want to help you sell your home What are your concerns when you're talking to sellers? I think one of the major concerns is how do I sell my house? And buy a new house when it's so hard to get my offer accepted. I'm not making enough money on the sale to be all cash. To compete. And, what do I do? I got three kids, I got a dog, I got school and all this stuff. How do I coordinate this so that I'm not homeless? I think having this tool in the toolbox can, it's a good tool for a realtor on a, you know, when you're talking to a seller, say I have a, you know, we have a solution for this. Wow. Yeah. Good stuff. Yeah. And save you some money, make you more money when you do the math and you think about it. I mean, the savings, I think are, are real and I think they're realistic and I think it's compelling. Definitely. No, thank you very much for talking about this. This is great. Can we do another two minute round next time? Thank you. Did you have the questions already lined up? While I was in the shower today, I thought of a few. Shower questions, alright. Do you wanna like go wash your hands and think of some more questions? No. No? No, that's why you gotta come back. I will. I'll come back. Alright, thank you. Thank you Camille. You're welcome. Appreciate it. Do the point at the camera, and then like

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Kamil Sarji

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