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Author Topic: ANY ONE KNOW THE ANSWER????  (Read 5787 times)

Offline real estate 001

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ANY ONE KNOW THE ANSWER????
« on: September 25, 2007, 05:01:21 pm »
 :cool  HEY with all the subprime going or gone  ,and  the loans getting harder to get !!


 MY question is this     IS any one know of any one who is doing  simultaneous closings   any more  any where ???


  THANK YOU ONE AND ALL FOR YOUR INPUT :beer

Offline christopher w

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Re: ANY ONE KNOW THE ANSWER????
« Reply #1 on: September 26, 2007, 08:45:49 am »
I am working on one that is closing this week. What exactly are the parameters of the deal?
Christopher W
C-214.923.5781

Offline real estate 001

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Re: ANY ONE KNOW THE ANSWER????
« Reply #2 on: September 26, 2007, 05:15:18 pm »
 :cool      HEY CHRIS  thank you for the post     

 YOU are speaking of the owner finance  simo  close right ??   


 Where  the owner   gives  temporay finance and the note is all ready sold  at the close  right ??? 

Offline christopher w

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Re: ANY ONE KNOW THE ANSWER????
« Reply #3 on: September 27, 2007, 08:53:37 am »
The deal I am working on is SIMO closing where a buyer bought a house for 279K from a builder. We recorded the deed yesterday morning. The title company updated immediately and we are closing today on the new purchase at a sale price of 365k.
Christopher W
C-214.923.5781

Offline real estate 001

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Re: ANY ONE KNOW THE ANSWER????
« Reply #4 on: September 27, 2007, 10:30:44 am »
 :cool   OKAY   this is  what iam dealling with   i do not think we are on the same page ???

   
 buyer puts  10 % or more down   and the sellers carry back a (temporay)  note  for the balance . AT the close the  sellers note all ready has a buyer in place for  the note .

 ALL SO called  table funding     SO the seller  has the note only at most a week  if that

Offline real estate 001

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Re: ANY ONE KNOW THE ANSWER????
« Reply #5 on: September 27, 2007, 10:32:57 am »
 :cool  CHRIS   i think  you may be thinking  of a double  close???   THERE is no second sale  just the one

Offline christopher w

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Re: ANY ONE KNOW THE ANSWER????
« Reply #6 on: September 27, 2007, 10:47:38 am »
Youmay be right. I apologize for the misunderstanding.
Christopher W
C-214.923.5781

Offline real estate 001

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Re: ANY ONE KNOW THE ANSWER????
« Reply #7 on: September 27, 2007, 10:52:59 am »
 :cool     NO problem


 THE whole thing  is really  a note buy   but it is all done and said  before the  deal is complet !!

 WHERE by some  note broker  // loan person finds a investor to buy the  note  for a set discount  at the close . THIS all is set in place  before  the note is really made

 




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