Can someone explain simultaneous closings? - Posted by Bobby

import · January 18, 2000, 1:34am

Posted by Bobby on January 20, 2000 at 23:08:35:

NM

import · January 18, 2000, 1:34am

Posted by Bobby on January 18, 2000 at 02:34:19:

I have found an area where houses are selling for 75-80% of fmv because there are few qualified buyers (It is a small, older town. It is about 30 minutes from a thriving small city that is growing rapidly.) I want to buy these and sell to buyers who would not qualify for conventional loans by creating a note and selling it at closing. (Most people in the area could swing the monthly mortgage payments, because they currently pay as much in rent.) I want to handle these transactions simultaneously so that there is no money out of my pocket. There is a title company that I have used for two properties that I own. How do/should I approach them about this & what are the pitfalls I should be aware of?

Any suggestions would be greatly appreciated.

import · January 18, 2000, 10:53am

Re: Can someone explain simultaneous closings? - Posted by kf_az

Posted by kf_az on January 18, 2000 at 11:53:09:

Here ya go…
http://www.creonline.com/art-136.html

k.f.