Wholesaling Split HUD ?

[Edwin Duran]

Hello,

I came across someone who said they were using a split HUD to close their deal? Wondering how it differentiates from a double close, or assighment etc, and how it works.

My other question is if the wholesaler of the deal have to put money down (apart from the marketing, finding deals, driving for dollars etc.), on the actual tying down of the contract or the process in general.

Thanks Guys!

[Wayne Brooks]

The OP is referring to a "split" HUD 1 closing statement. This simply means all the buyers fees, costs, and cash to close are on one HUD statement, and the seller's costs, fees, monies received, etc. are on a separate HUD closing statement, such that neither party sees the other party's side, also referred to as a Blind HUD's. It doesn't change the closing, or funds required by the different parties, in any way. It's generally used to "hide" the assignment fee that the buyer is paying, from the seller.