Double Close information

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I recently completed my first wholesale. Honestly it was more luck and right place, right time then anything else. Either way I'm diving into wholesaling head first and have been coming across some pretty good deals using REO searches in my area.

I've been told the only way to wholesale an REO is with a double close, but I'm not too sure how that exactly works. Is it a situation where once I close with the title company I just sell the property to an interested buyer same day using a different title company? If so I'm guessing this takes a lot of pre-planning and schedule verification.

If anyone has experience with Double Closing please help!!

Originally posted by @Danny Offei :

I recently completed my first wholesale. Honestly it was more luck and right place, right time then anything else. Either way I'm diving into wholesaling head first and have been coming across some pretty good deals using REO searches in my area.

I've been told the only way to wholesale an REO is with a double close, but I'm not too sure how that exactly works. Is it a situation where once I close with the title company I just sell the property to an interested buyer same day using a different title company? If so I'm guessing this takes a lot of pre-planning and schedule verification.

If anyone has experience with Double Closing please help!!

REO typically does not allow assignments. So you need to buy the property and then sell it to the end buyer the same day. Not all title companies will do this and there could be issues with chain of title. You can use the search function at the top right to search "double close" and a bunch of threads come up

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