Double closing Experience? 60K profit in TX
I have a land purchase contract on some acreage in TX for $100K. I have a buyer interested in purchasing this tract for 160K with conventional financing. I believe he has 15-20% he is putting dow... I have been purchasing and selling land for some time now but this would be my first attempt at double closing on something. I have transactional funding available however i have read that most buyer's lenders won't allow for them to close on a property without a "seasoned title".
Can anyone confirm this? Does anyone have any experience with this closing procedure in TX? Or at all?
Thanks in advance for any input!