I’m an investor in California and am just getting ready to do my first double closing. I want to make sure I do everything right in the sight of the law. So in other words I want to do it 100% legally. Can anyone tell me anything I should be aware of? I need to know what needs to be disclosed to who and that kind of stuff. I know that I need to find an investor friendly title company and have done that. But I heard from someone that when you are going through with the deal while working with the title company you need to make sure the title company doesn’t call the bank to get the payoff because it would really screw things up. Why would this screw things up? They just said you need to make sure you give the title company the payoff. Anyways, any input into this would really be appreciated.
It depends on what type of deal your double closing on. If your buyer has a FHA loan your not going to be able to do a double close because of the title seasoning. Now if your buyer is a cash buyer, conventional loan buyer, hard money loan buyer, you want run into this problem. I am a investor in california myself
Good Luck :beer
Always have escrow request a beneficiary statement… There is nothing to fear…
Thanks a lot guys. That’s everything I needed to hear!
Double close is a pain in the …!!! There is a better way out there just be creative.
I must be missing something… What is so friggin hard about a double close?
Investing inst rocket science… Ever wonder why so many Engineer types want to be investors… lol
Well the reason I have is the end buyers title seasoning issues.
thats why I’m using a cash buyer. There won’t be any title seasoning issues with that will there?