Double Closings
I'm a bit confused at the moment with something I was recently told by a mortgage company. This may be a state specific question (Alabama), but here goes...
Recently, I found a seller interested in selling, I got a great deal and got the property under contract. Yea me!...then...I found a potential buyer who had been pre approved by his mortgage company. Being new, and covering my bases, I called the Mortgage company and told them we would be doing a double (simultaneous) closing. I was then told that the mortgage company would not write a check to me, only to the originator of the sellers loan and the deal could not be closed.
Did I miss something?????