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WHAT'S A DOUBLE CLOSING?

Real Estate investors often utilize a Double Closing to stay involved in the process rather than assigning the contract. Investors are also able to keep their profit confidential as they sign their purchase and sale agreement with their end buyer.  The idea with a Double Closing is that there's two separate transactions - one between the seller and wholesaler and another transaction with the wholesaler and end buyer. 

HOW FAST CAN I CLOSE?

You can close as quick as 24 hours from when title and other closing items are ready. 

WHAT ARE THE COSTS?

The cost that DoubleClosing.com will charge to fund the transaction is 1% of the funding.  We cap the fee at $5,000 for fundings over $500,000 thus fundings over this amount are paying less than 1%.  For example, if the cost for a transactional funding for the A-B transaction is $250,000 the fee due to DoubleClosing.com is $2,500. If the A-B transaction is $500,000 or greater, the cost will be $5,000. 

IS AN APPRAISAL, CREDIT CHCK, BANK STATEMENTS, ETC. NEEDED?

There are no appraisal, credit check, bank statements, or income documents requred.

HOW FAST CAN DOUBLECLOSING.COM FUND?

We can fund as quick as a one day notice.

CAN I CLOSE WTHOUT ANY MONEY?

Yes. With DoubleClosing.com, you can close on a real estate transaction without using any of your own money and make your profit selling to your end buyer.

WHAT'S THE DIFFERENCE? | DOUBLE CLOSING VS. ASSIGNMENT

Whereas with a Double Closing the wholesaler actually purchases the subject property, assigning a contract will not require the wholesaler to purchase the property. The wholesaler becomes an Assignee with a fee due at closing but no longer remains an active participant in the closing process.

I NEED HELP UNDERSTANDING. CAN YOU ASSIST WITH QUESTIONS?

Yes. We are experts in the Double Closing process and have an experienced legal team as well.  Our legal staff has conducted thousands of closings since 1997. We are experienced with purchase and sale agreements, title exams, and other parts of the closing process.

CAN THE SAME ATTORNEY HANDLE BOTH THE A-B AND B-C CLOSING?

No. The Real Estate Bar Association has advised that the same attorney cannot handle both the A-B and B-C closings due to a conflict of interest.

CAN THE A-B ATTORNEY WAIVE THE CONFLICT AND SERVE AS THE B-C ATTORNEY?


No. The Massachusetts Real Estate Bar Association has stated that handling both closings is NOT a waivable conflict. For example, if the B-C buyer is in default where does the lawyer stand with regard to the forfeiture of the deposit? These are risks an attorney should not be willing to assume.

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