:o
Dear Investors/Experts:
I have a property under contract( SS) and another one in the pipeline. But Title companies in Chicago are claiming that doing double closings/Simultaneous closings are ILLEGAL. I have read a lot of articles on the same and it says, its illegal only if the end buyer is taking a mortgage or paper work is manipulated. But Iam doing no such thing. I want to hold the property for a few minutes and wholesale it to a cash buyer. I do not want to do an assigment as the fees are a big higher than average. Obviously, I do not want everyone to know how much I am making on this deal.So,if I am selling to a cash buyer and am a middle man( woman) in the transaction, why would it be illegal?!!! Without a title company, I cant even proceed on this deal. What should I do?
Any recommendations of title companies in Chicago that do double closings? Please help.