Georgia Property Nighmare ! What to watch out for when CLOSING

Georgia Property Nighmare ! What to watch out for when CLOSING

Buffalo · Member since 2021 · 33 posts · 5 votes

Today I had a Georgia property ready to close with an assignment FEE. The END buyer said they could close on the deal fast because I told them the closing deadline is July 26th of 2021. 4 days went by and then they tried to do a double closing. Title contacted me, the seller, and the so called "END BUYER" / FLIPPER." They said that they couldn't do the transaction because of it being assigned and double closed at the same time. Now I only have 5 days to get the deal completely done. Any thoughts?? Wisdom?? Ideas?? how to get this deal taken care of fast. Thanks for any responses ahead of time. I think this should be posted on here anyways to help new investors for signs to watch out for when delivering the deal to the end. 

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  • Investor · Atlanta, GA · Member since 2016 · 627 posts · 374 votes
    5y

    Either let them go through with the Assignment or do the double close, but you can't be involved in both.

    So you might want to contact the closing attorney and make sure everyone is on the same page as it sounds like there might be a miscommunication there.  

    Unless what you're mentioning is that they are also now trying to sell to someone else after your sale to them that is not going through. Thats a different story and I hope that you have non refundable EMD from your end buyer.

    I live in Metro Atlanta if the deal is not far, i'm personally also looking for rentals and flips.

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