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Updated almost 4 years ago on . Most recent reply

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Ben M.
  • Houston, TX
47
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303
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Question about double closing

Ben M.
  • Houston, TX
Posted

If I purchase a property from a wholesaler and they did a double close, does it increase my closing fees in any way or there should not be a difference in closing fees than if it were not a double close transaction?

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Jesse LeBlanc
  • Investor
  • Atlanta, GA
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Jesse LeBlanc
  • Investor
  • Atlanta, GA
Replied

@Ben M. As Daniel stated, I'd double check your contract with the wholesalers.  9/10 times though when they double close, they pay for their own closing costs then you pay for yours. 

But then you have some companies like Net Worth or New Western who charges their rookie end buyers to get suckered in and forces their end buyer to pay for BOTH closing costs all because they never want to disclose anything.  So just double check your contract with them and or ask them because you'll likely want to have a long term transparent relationship with a good wholesaler so you both benefit from one another.

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