The single biggest advantage of private lending over conventional financing is speed. A seller with a motivated timeline, a price dispute with a slow traditional buyer, or an auction property going to the fastest bidder — all of these situations favor the investor who can credibly say 'I can close in 7–10 days.' Here's how to actually execute that.
Day 1-2: Get Pre-Approved Before You Need It
A fast close is impossible if you're starting the lender conversation after signing a contract. Get a term sheet from your private lender before you make offers. Your lender needs to know your credit profile, entity structure, and general deal parameters. When you're ready to submit a specific deal, you're submitting to a lender who already knows you — not starting from scratch.
Day 2-3: Submit the Deal Package Immediately
The day you sign a contract, submit the loan package: signed purchase agreement, property address and photos, your entity docs (LLC operating agreement, EIN), and any existing leases or rent rolls. The faster you submit, the faster the appraisal gets ordered — and the appraisal is usually the critical path.
Day 3-5: Appraisal
On rush deals, appraisers can turn around in 24–48 hours for an additional fee. Desktop appraisals (where an appraiser uses public data without visiting the property) are available on certain products and can be completed same-day. For fast closings, always ask your lender if a desktop or drive-by appraisal is available.
Day 5-7: Title and Closing
Title work is the other variable. Use a title company that regularly handles private lending closings — they know the process, have the right CPL (closing protection letter), and can turn around title searches quickly. In Florida, title searches take 24–72 hours for clean properties. The closing package can be signed digitally in many cases.
