April 7, 2011 in Exit Strategies, Investing In Real Estate
In part one I discussed exactly what a double closing (simultaneous closing) was and how it all works. Today I want to go over some of the other points such as are there any negatives to doing a double closing and using traditional lenders to fund the closing. If you missed Part 1 of this article you can read it by Clicking Here…..
What Are the Negatives of A Double Closing? Read the rest of this entry →
April 7, 2011 in Getting Started, Investing In Real Estate, Wholesaling
There is so much confusion especially for new investors when it comes to doing a double closing. While this subject appears to be complex to some folks, it is really quite straight forward in how it is done.
Since this is a lengthy topic, I am going to break this post into two parts. Today we will go over what exactly a double closing is and exactly how it all works. Tomorrow I will cover what the negatives are, and why I prefer not to do contract assignments.
What Is A Double Closing?
A double closing or simultaneous closing as it is sometimes called is when you (the buyer) actually take title to the property just before you sell it. This means that your name or the name of your company will go on the chain of title whether you sell the property the same day (which is typical for a double closing) or 30-60 days or more down the road. The main advantage to doing this type of closing is that you do not need to bring any of your own funds to the closing.
How Does A Double Closing Work? Read the rest of this entry →