What to do when the double close is unavailable.
It is possible that a double closing is unavailable. Doesn’t matter what the reason. It could be “illegal”. Rarely the case. It could be that Title Company policy says “no double closing”. It could be that no Title Company in your area knows how to double close. Doesn’t matter, if this is the case, switch to Transactional Funding.
Here's the idea: Borrow 100% of the money at 2% per day. Borrow for just one day. Meaning, you have your closing to purchase today and you’re closing to sell tomorrow. I affectionately call it the Today/Tomorrow Closing.
You can borrow this money from a hard money lender. You must have both closings ready and scheduled otherwise, the HML will not do it. Mentally prepare yourself for this strategy to be rare. But, from time to time, you may encounter a house at a wholesale price that can be turned very quickly. This would be the candidate for Transactional Funding.
If you run into one of these and need help, just call.
If you need to buy or sell a home, see us at www.5kflatfeelisting.com. We look forward to hearing from you.
Buyers get: Sellers get:
FREE Home Inspection 5k Flat Fee Listing
FREE Termite Inspection FREE Home Inspection
FREE Home Warranty FREE Termite Inspection
Best,
Geoff Nowlin, Phoenix Realtor Brett Young, Cleveland Realtor
480-466-3737 (216) 703-5740
www.5kflatfeelisting.com by56083@gmail.com
nowlin.geoff@gmail.com
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