Triple simultaneous closing??

[Corey Scott]

I have a question...

Lets say....I get a house under contract and then have a hard time getting a buyer to wholesale it to. So I call another wholesaler to sell it to and maybe make a minimal spread. The other wholesaler wants to buy it for a slightly higher price and has a buyer so we have a deal.

Now what do we do at closing? Can you do a triple simultaneous close or add two assignment fees? Do one of us have to be a realtor to get a commission? How would this work?

Thanks

[Steve L.]

This is no problem.

The closer (escrow, title co, lawyer) will just split the fees as you direct them. It will only be assigned to the end Buyer not triple assigned.

If it is under contract for $90,000 by party X. Party Y has a buyer at 100,000 and you agree to split commission. You will tell the closer to pay party X $5,000 and party Y $5,000. You can split it however you want as long as all parties agree.