Double Closing

I live in Austin, Tx and I would like to know the legalities when structuring Double Closings? I’m not familar with this technique and I want to know how to structure one.


Howdy Motivatedinvestor:

I am in Austin too: We should meet and talk deals. Double closings are used like assignments when you are selling a property you have under contract and do not want your buyer or the seller to meet and know your business at least until the money changes hands. You may already know the reason above and the how is easy. Instruct the title company that you wish the two not to meet and you want the deed from the seller in your name and then another deed from you to the buyer at the second closing. I have seen them done at the same time in different rooms but better to have them at different times. The order does not matter as it is all in escrow until the checks are dispursed and everything is signed by all parties.

There is not much else to it. It will cost a bit extra maybe a few hundred dollars because of two escrow fees and two deeds etc but that is about all the extra costs. The title policy fee can be at the buyers or sellers expense but you will only need one policy.

Thanks for your quick response!

Are there any transfer of title problems to worry about?

What about the release of funds from the buyer?