Double Closing with Agents? Anyone... - Posted by Christian Beebe

Posted by Kristine-CA on July 18, 2003 at 17:01:30:

Christian: I’ve done it. It doesn’t really have anything to do with the agent. What you do with your interest in the contract is your business. The most important issue is your exit. If your buyers need lender funds, there may be problems with assignments or double closings because of title seasoning issues.

I don’t yet know away around the title seasoning issue. If your buyers have cash, then no problem. You might want to look into working with a mortgage broker that understands that title seasoning will be an issue.

Also, I recommend getting the seller to sign a disclosure that states they are aware that you are an investor and may have purchased the property for re-sale and that you may be assigning your contract. It saves a lot on seller confusion in the end.

Make sure you check with a good RE lawyer for your docs and disclosures.

Hope this helps. Sincerely, Kristine

Double Closing with Agents? Anyone… - Posted by Christian Beebe

Posted by Christian Beebe on July 18, 2003 at 16:39:00:

ever done this. Here’s my scenario, I have a couple who want to sell me their home and at the same time have me put them into another home around there area. They don’t care about condition because the husband is a contractor and can fix anything. I checked the local MLS and found a couple homes which would be perfect for them. How can I do this and make some sort of profit at the same time? Can you make an offer to the agent and then sell to your buyer at a higher price? Just curious. Thanks, Christian