Simultaneous Closing? How? - Posted by j_bedunah


#1

Posted by cosmos on December 26, 1998 at 20:35:34:

don’t wait for anything!!!
time is money …rule #1
go to the library get “nothing down” by robert g. allen
most major libraries will have it if they don’t they’ll have others I’m sure of it. you will find all you need and more at the library.look in real estate buying section. If you have a deal pending I’d run it could make you thousands (this stuff works)


#2

Simultaneous Closing? How? - Posted by j_bedunah

Posted by j_bedunah on December 26, 1998 at 19:43:44:

I’ve heard about simultaneous closings before, and I understand the basics i.e. you find a seller with good terms, find a buyer who can exceed those terms and the difference goes in your pocket. What I don’t understand is the mechanics. How do you tie up the seller, get they buyers money and close the deal without signing anything? Or without the buyer and seller just pushing you out of the way and closing with each other? Here’s why I’m asking:

I’ve found a mobile home deal where I can get ownership by paying two back payments and “transfer fees.” I would like to find a buyer with a down payment large enough to cover the mobile home back payments and fees, the advertising, plus a little extra for any surprises (or my pocket if there are no surprises). I would then carry a note for the value of the MH and take monthly payments at %10-12 interest. Any suggestions, clues on how to do this deal specifically?

Thanks guys!


#3

Re: Simultaneous Closing? How? - Posted by cosmos

Posted by cosmos on December 26, 1998 at 20:15:18:

happy hollidays
the best thing for you to do is alot of reading( no offence) there is just too much to say and beleive me anyone who speaks to you will forget something.
go to the library, I did, and I’ve made alot of transactions. go go go! good luck!


#4

Re: Simultaneous Closing? How? - Posted by j_bedunah

Posted by j_bedunah on December 26, 1998 at 20:24:34:

Cosmos,

Thanks for the advice and encouragement. I have ordered several books and I am hoping they can get here before this deal slips from my grasp.

Jason


#5

Re: Simultaneous Closing? How? - Posted by SCook85

Posted by SCook85 on December 26, 1998 at 22:28:19:

Jason,
I’m prone to give the same advice as Cosmo and tell you to go out quick and get it done, but I would also like to caution you. Don’t jump in if you are not ready. There will be other deals. You don’t want to move to quick and make a costly mistake. But I also am not looking to scare you into never doing a deal. At some point you have to just do it, but don’t rush this one if you are not ready. Get educated there will be other deals.

SCook85