I heard that title companies especially here in California, will not except funds from my cash buyer, to me to fund my all cash deal to the seller, so he/she can close the deal, in which I get my wholesale fee, and my cash buyer gets the property that I set up, with out proof of funds from me, with cash to close the deal. I hope that makes sense. I thought all I had to do is get the property uncontract, tell my cash buyer I have a good deal and, if he/she likes, brings all cash to the title company the day of closing, me and the seller meet the morning in one room in which the title company pays the seller his/her purchase price all cash. And later me and my cash buyer meet in which he signs documents pertaining to his new property, and I get my double closing fee ? Do I need Transition funding to close deal now ?
Double Escrows (Concurrent Closings) Escrow Services in Los Angeles County, CA
The first transaction, (the A-B Transaction) closes on one day in Los Angeles County, CA. The second transaction, (the B-C Transaction) closes the next day, so as to allow the Binder Title Policy one day of procurement in between the closing of each transaction. Each transaction must fully fund independent of each other and funds from party “C” cannot be used to close the A-B transaction. Thank you Mr. Ricks