Skip to content
×
Pro Members Get Full Access
Succeed in real estate investing with proven toolkits that have helped thousands of aspiring and existing investors achieve financial freedom.
$0 TODAY
$32.50/month, billed annually after your 7-day trial.
Cancel anytime
Find the right properties and ace your analysis
Market Finder with key investor metrics for all US markets, plus a list of recommended markets.
Deal Finder with investor-focused filters and notifications for new properties
Unlimited access to 9+ rental analysis calculators and rent estimator tools
Off-market deal finding software from Invelo ($638 value)
Supercharge your network
Pro profile badge
Pro exclusive community forums and threads
Build your landlord command center
All-in-one property management software from RentRedi ($240 value)
Portfolio monitoring and accounting from Stessa
Lawyer-approved lease agreement packages for all 50-states ($4,950 value) *annual subscribers only
Shortcut the learning curve
Live Q&A sessions with experts
Webinar replay archive
50% off investing courses ($290 value)
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Wholesaling
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

User Stats

3
Posts
0
Votes
Danny Leyva
  • South Gate, CA
0
Votes |
3
Posts

How do I double close in California? + More Questions

Danny Leyva
  • South Gate, CA
Posted Apr 26 2017, 20:11

It's my first ever real estate deal and i have enough spread on a property that i dont want the motivated seller or end buyer to know what i will be making off the deal. 

I saw one video saying that i should make a purchase agreement (or CA RPA in California) between me and the seller, and then to make a second purchase agreement between me and the end buyer. My question is, is this legal in California? 

Do i sign the agreement with the end buyer before the property is mine so the buyer has enough time to show up to the title company with the purchase price money, or do i sign it at the title company first and then wait for them to get financing?

Will this work if the end buyer gets a mortgage? I know banks will fight against an assignment if they see it, so does this agreement  with the buyer protect me from possible issues with their bank?

In my contract with the seller, can i agree to pay cash with 0 earnest money, pay him from the end buyer's purchase price money that the escrow company is holding, and pay all escrow/title fees with the same money? 

Is it better to do a CA RPA with the end buyer or a CAR addendum and how would i get paid with the addendum?

I know this may be a lot to answer, but i am fully committed to giving all my effort to real estate and i greatly appreciate the time you take to write a response. Thanks

Loading replies...