What's a Double Closing?
A Double Closing is two separate closings which is a coordinated real estate arrangement involving two separate transactions between three parties: from Seller A to Wholesaler B, and then from Wholesaler B to end Buyer C. A Double Closing typically occurs on the same day.
Seller "A" sells to Wholesaler "B"
A
B
Wholesaler "B" sells to end Buyer "C"
B
C
A Double Closing occurs when a real estate investor (i.e., a wholesaler) contracts with a seller willing to sell their property at a reduced price or below market value.
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This is the process, it's simple:
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The wholesaler/investor finds a real estate seller and both parties agree to a lower price for what may be a distressed property (the A-to-B transaction).
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When the wholesaler/investor finds an end-buyer, these parties sign an additional purchase agreement (the B-to-C transaction) to purchase the property at a higher price and close on the same day as the A-to-B transaction.
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The wholesaler/investor secures transactional funding from DoubleClosing.com to buy the property from the seller.
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When both transactions are complete, the wholesaler/investor repays the loan from DoubleClosing.com with the proceeds of the B-to-C transaction and keeps the difference as profit.
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With experienced people on your side, a Double Closing is a very simple process. Whether you have a foreclosure bid that cannot be assigned or a purchase and sale agreement that you do not want to assign, whatever your situation is we would like to help you. For situations with difficult titles, we have extensive experience with complex title exams and our legal team is a title insurance agent for Westcor, Old Republic National Title Insurance Company, CATIC, and First American Title Insurance Company. We have significant resources for finding solutions for various title situations.
The legal team at DoubleClosing.com has conducted thousands of closings since 1997 with extensive experience with Double Closings. Many law offices and title companies have no experience with Double Closings and have never heard of this kind of closing. Many offices have never handle A-B then B-C transactions with fast back-to-back closings occurring on the same day nor have experience with transactional lenders.
Do yourself favor and choose DoubleClosing.com as your solution for fast, reliable, transactional funding for your next Double Closing.