Double closings Vs. Assignment of contract

[Rob Gillespie]

I have been wholesaling for 15 years. Out of the hundreds of deals that I have done, I can honestly count on one hand the number of times that I have done a double close. I always just assign my contracts.
Since I have been on BP, I hear everyone talking about double closes. Is there a reason? I always found them to be more complicated, expensive and really pointless in most scenarios.
Am I missing something?

Thanks for your help in advance! :D

[Will Barnard]

Double closings are often necessary when dealing wholesaling a bank REO or short sale. They typically do not allow "assignment of contract" and thus, to cirumvent that, one must incorporate a double close.
The other options are to use a trust, newly formed entity, or substitution of buyer.