Simultaneous Closing and the Closing Cost Double Whammy - Posted by Russ Sims

import · March 11, 1999, 2:23pm

Posted by Stu on March 14, 1999 at 13:37:08:

I was just the the sandwich on a simultaneous close. Somehow I ended up not only paying a lot of the closing costs, but $2,000 of the down payment, too(which came back to me). The guy that put this deal didn’t notify me until the morning of closing that I would need $3,400 in a cashiers check at closing. Luckily my banker likes me and let me overdraw my account overnight after seeing the settlement statement. Let me know if you get an answer.

import · March 11, 1999, 2:23pm

Posted by Russ Sims on March 11, 1999 at 15:23:50:

Just wondering if you L/O and wholesaleing pros have a standard way of dealing with closing costs during a simultaneous close. Sure would like to know if you’ve had much luck in escapeing all closing costs, and if so, what kind of spin do you put on it to the seller and buyers?
Thanks!
Russ Sims