Simultaneous Closing - Posted by Kristina KY

Posted by Kristina KY on December 12, 1999 at 17:26:25:

I have a perhaps general question about simultaneous closings. If intending to do a flip, but are not able to assign (if working with realtor, sometimes easier not to deal with explanations of assignment…) how do you structure the two closings? The first with your seller, and then the second with your buyer (who will have all of the cash)?

Do I need to find a hard money lender to have the cash up front for the first closing, and then receive my reimbursement (and profit) from the second closing?

A bit confused on this process. Thanks for all your help. Still plugging away at RE, anticipating my first profit SOON!