Triple Close??

4 Replies

Hello BP,

Putting this out there to see if anybody has experienced a deal like this one.

I have a contract with a seller for a price of $X. I'm wholesaling it to an End-Buyer for $Y. But that end buyer, is wholesaling it to another End-Buyer for $Z.

The problem is, the End Buyer for $Z wants to close with his title company. Me and the End-Buyer for $Y are closing with another title company that does double closes no problem. I'm not sure if the End Buyer for $Z's title company does double closes and this is where the problem comes in.

I was going to look into Transactional Funding. As you can see, this is complicated. The End-Buyer for $Y im wholesaling it to are experienced and told me to not worry they can make the deal happen.

Any suggesstions to go about this? Very much appreciated

Hi Sharad,

I guess Im asking has anyone done a deal like this? Or does it sound possible with the situation? Normal double close wouldn't be an issue, except the wholesaler im wholesaling it to, has an End-Buyer who wants to close with his title company. How is the End-Buyer going to close with the other wholesaler if he doesn't have a contract with the seller? Since I do have a contract with the seller, the End-Buyer would have to close with Wholesaler $2, and then Wholesaler #2, would close with me (Wholesaler #1) and I in turn close with the Seller.

Writing this out, it sounds confusing, and I don't know if a title company will do this. Just getting someone's input to see if this possible.

hi John,

In my area, if we buy a property with Title company A and want to sell that to our buyer with title company B, the title company B would need recorded deed from the county before they can close. Why don't you call the 2nd title company and ask them what they will need from the first part of the transaction to close the deal to the end end buyer?

Sharad

Ok that sounds good. It would probably be alot easier if the end end buyer was closing with our title company. Then we can just do it all there, but he wants to close with his and his title company doesn't do double closes. I'll check what they would need though. Thanks