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Updated almost 9 years ago on . Most recent reply

User Stats

5
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2
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Lisa Mazzarri
  • Investor
  • Chicago, IL
2
Votes |
5
Posts

Additional information on and need double closing title companyy

Lisa Mazzarri
  • Investor
  • Chicago, IL
Posted

I am looking for a title company who can do double closings.

I need someone in Chicago who know how to do double closing" as investors meant it--essentially, you sell the foreclosure to someone else, and then you use the proceeds to pay for that same property--it's nearly impossible to find anyone to do that any more. What you have to do is use what's called "transactional funding." That's provided by specialized lenders who'll lend the money for just 24 hours or so. The cost may be the equivalent of 2 points (2%) of the transaction price.

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