What paperwork is needed..... - Posted by Kevin

Posted by Barry (FL) on September 21, 2004 at 18:59:33:

I’m no attorney, but if I sign a contract with a seller, I am laible for that contract and I’m gonna hang around until the deal is consumated…just in case. I’m also going to close on the deal if I have to because that’s what I said I was going to do.

Hope This Helps,
Barry (FL)

What paperwork is needed… - Posted by Kevin

Posted by Kevin on September 21, 2004 at 12:08:37:

to close a “flipper”. House is owned, outright. I’m buying it for $20K. Selling it for $25K. This is going to be a “duel closing” kind of thing. I have the contract to buy the house. Do I need a lawyer to do the closing or can I do it some simpler way? Warranty deed? Purchase and sale?? Thanks,
K

Re: Ready, Aim…Close! - Posted by Jack

Posted by Jack on September 21, 2004 at 13:01:36:

“This is going to be a “duel closing” kind of thing.”

Is that when whoever is alive after the shooting stops gets the house?

LOL! Sorry, I couldn’t resist.

Re: What paperwork is needed… - Posted by Barry (FL)

Posted by Barry (FL) on September 21, 2004 at 12:26:51:

there’s at least 2 ways. either a double close, use a title company or attorney, either or will suffice for whichever way you decide. Make sure they will do a double close and make sure you consider the closing costs on both deals or there will be nothing left for you.

I like the seller to pay all costs on the buy and the bueyr to play all costs on the sell. Everythings negotiable.

If you know your end buyer and they know your making a profit, just assign the contract for a fee. You will need an assignment agreement as long as the contract is assignable. Ride it to the end thogh , don’t just assign and walk away. You need to control it to the end and make sure it closes.

Hope This Helps,
Barry (FL)

Re: What paperwork is needed… - Posted by Jo

Posted by Jo on September 21, 2004 at 15:36:24:

Barry,what do you mean by controling it to the end to make sure it closes? Wouldn’t you be out of the deal completely after assigning it to someone else and collecting your fee?
Thanks