simultaneous closings - Posted by Tonya Brown


#1

Posted by SCook85 on December 06, 1998 at 18:32:04:

Tonya,
You need to do an assignment of contract. Your assignment fee will be for $8100. This shows up as one line on the settlement sheet and you walk away with it all. If you do a true simultaneous close in which you take title and sell it to someone else simultaneously you will lose some of your profits, because you will have to pay closing cost to take title and then they will have to be paid for again when you sell. I saw that you made an offer on a home in Baltimore further down in the newsgroup. Are you from Baltimore?

SCook85


#2

simultaneous closings - Posted by Tonya Brown

Posted by Tonya Brown on December 05, 1998 at 12:55:51:

Help! I just made an offer on a house for sale for 16,900.

I want to resell the property for 25,000 before closing therby giving the seller his 16,900 and profiting 8,100
I am a brand new investor can someone help me figure out how to do this.

The house has three bedrooms and needs cosmetic work