How hard is it to do a double closing these days?
Does anybody have any info on how to use discount notes to buy property and do a double escrow to close the deal?
I find this can be done.. just depends on the closing attorney or escrow company... For me I always have my funds there to close .
although I have done deals were I never brought anything in to close and used the next buyers funds to buy my deal.. These were mainly subdivision deals were I bought from farmer ... got entitlements then sold to larger builder.... However I always kept my powder dry and was prepared to close if they tried to end run me...
I only had this happen to me once.. And it was in my Timber days. I had tied up a nice ranch up out of Spokane 1.5 mil price I got a bid to buy the timber for 1.2 on a timber DEED.. so I needed 300k to close.. And I would have resold ranch for 1 mil... Well the Log buyer from Boise went around me and just bought the timber direct from the owner and cut us out.. That was the only time in my 10 plus years of buying and selling Timber DEEDs that that happened.. My main buyer was Menasha out of WI and they would never have done that..
But live and learn
Hi @Brian Dean
It's not very hard to do double closings. I do a lot of these in Indiana. I just did one on Thursday.
I don't know how to use discounted notes to do double closings, but I am using cash to do these double closings.
If you need recommendation for an IN title company, let me know.
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