OfflineHi all,
Can someone explain to me the process and reason for a double closing on a wholesale deal? I am understanding more and more how assigning contracts as a middleman works. I just don't understand what the purpose of a double closing is. I have read it somewhere, just need some help. I'm getting more anxious to get started. Thanks for your help.
Buffs
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From what I learned so far on a assigning contracts, must be done on the same day. To go in more detail, doing assignment of contracts entails locking up a property under contract with a seller for an agreed upon price and then passing on the contract to a buyer/invester for a fee. The contract language will specifically grant me the right with the seller to assign the purchase contract to another buyer by putting in ''and/or assignee'' next to my name in the purchase contract.
Double/Simulating closing
This you don't want to with whole sellers only retail b/c it hides your earnings. In most cases your fee is higher have a separate contract for this.
Zellner Inc
SIBKIS
See it big Keep it simple