Title Representative · Orlando, FL · Member since 2015 · 2 posts · 0 votes
I am completely new to flipping properties. I've recently come across a property to purchase that has considerable equity value, enough that I have a private investor interested. My problem is i've never put a deal together. My question is how do I structure this deal to not get left out of the profits. The house is being sold thru a Realtor, and the investor is paying cash for the sale. What sought of contract will I need in order to be inserted into the deal. Note that i am not a realtor or broker, just an individual.
A title agent visited our local meetup and said that, to cover all bases, you would want to do a double closing. You can use transactional or bridge funding. So you sign a regular purchase agreement with the first party, and a sales agreement to the second party, and the title agent will give your check in the middle. Yes, you would go on title, but just for a couple of hours.