How do I find an escrow company that does double closing in Scranton, Pennsylvania.
Thanks
Most escrow companies will do it if you do it right.
What are you trying to do?
I am questioning you because there is a legal way and if you are doing it the legal way you will not have any problems what so every
I do simo closings in Harrisburg PA all the time.
What do you consider to be the legal way of double closing a property?
Also, is it possible to use the funds from your buyer (deal 2) to fund the deal with your seller (deal 1)? I’ve heard of this “floating of funds” but I can’t seem to get my arms around it.
Thanks for your time!
Yes this that is what lenders and attorney and states gvmts. don’t like to do and unforutuately that is what the seminar gurus teach you to do.
HML may do it.
How I do my simo closing ususally is I have a HML in place and he charges me minimual points for it because he is going to get his money back in hours to a matter of days. 1-3 points is betty good for that kind of ROI for that short of time.
Is your HML actually funding the deal? Is the HML actually wire transferring funds into the attorneys account for distribution to the seller of ther subject property? Or is the HML giving you a letter of credit to show the attorney that you are indeed good for the funds in question and then is the attorney using the funds your buyer is using to purchase the property from you to purchase the property from the seller for you.
Did that make any sense??
I have been told that it is possible to fund deals on a double closing by using the funds from the second deal to fund the first deal.
Thanks for your time!