Do You Use Double Closes to Hide your Profit Spread?

[Sean Dezoysa]

Double closes have the nice advantage of keeping your profit spread private, at the disadvantage of costing more in financing and closing fees. And of course sometimes double closes are necessary when contract assignments are prohibited. But for the purpose of getting the deal done, does anyone here use them to keep their fees private?

[David Beard]

Back-to-back closes are most definitely done at times to hide the wholesaler's [large] profit, which might unnecessarily irritate the buyer. The two transactions are done same day, but not at the same time, and the ultimate seller and buyer are in fact kept separated. Of course, it'll all be on the public record later.