I was at an investor meeting yesterday talking to an experienced investor about a wholesale deal that fell through. My seller and I had a contract and then I did an assignment of contract to my new investor end buyer. When the title company sent the HUD and Title policy with the name of the end buyer - well, it turns out the end buyer had once dated the original seller’s wife in highschool! Seller backed out and deal fell through.
The experienced investor told me I could have tried to go through with the closing and then cloud the title on the property but at the time I didn’t think it was worth it. The investor also told me I might try a “blind HUD” in the future rather than a double closing.
Here is what I was able to find on this site from 2007:
“what you need to also try is a blind hud, its where the seller has his side only and buyer has his side only… title companys do that too.”
Has anyone had a title company prepare a blind HUD?
I have a new deal under contract and am trying to figure out the best way to get both sides closed without revealing the wholesale fee if I don’t have to. Both my original seller and end buyer know I am an investor and I explained I’m working with other investors. I’m wondering if a blind HUD would work or maybe I just need to get transactional funding and do separate closings on the same day using a pass though on the Title policy.