Want to know how to do Double Closings with Short Sales?

Want to know how to do Double Closings with Short Sales?

Hey everyone,

Today I'm going to take this opportunity to answer one of the most popular question being asked in the Creative Real Estate Community, "How do you do a double closing with a short sale?"

I'm going to assume that everyone already knows what a short sale is so I'm going to start at the end where the investor already has an approval in his/her hand and has an end buyer waiting to purchase the property.

First Closing will involve:

Seller A, Investor B

Second Closing will involve:
Investor B, End Buyer C

The process is very simple.  From the lender to the attorneys and title companies involved, all parties in the transaction must be disclosed what exactly is going on.  You must disclose that you are going to be doing a double closing.  Once that is fully disclosed to all parties involved we will move to the next step.

From here you must make sure that your buyer C is ready and in position to close and purchase the property from you as soon as you buy it to sell it to him/her.  Once that is known you will fund your A to B closing.   You will fund it with either cash or a hard money loan.  Once the first transaction is funded you should wait for the second to be funded before you send out your money.  Last thing you want to do is send out your money and they don't buy the property.  Once the second transaction is funded the money just changes hands from B to A, and C to B and we are DONE!

Make sure to write me a testimonial once you get paid!  I look forward to seeing you at one of our Free Classes!

www.TheInvestorsAcademy.com 

Nick Tang
The Real Estate Coach