Need someone to help give me some advice and recommendation on a settlement company in Northern Virginia that handles simultaneous closings on an REO property that I am acquiring. Bank doesn’t want and/or assigns on the contract. What are my options? i don’t necessarily wanting to do a double closing using my hard money because of the points I would have to pay. Can I do a simultaneous closing using the end buyer to fund the deal? Please help provide advice.
Thank you in advance for your help.
If you have a buyer, your best choice is to find someone to handle a simultaneous close. Have you tried talking to other investors in your area? It’s getting harder to find companies to do double closings, there may not be many in your area.
Instead of doing a double close you can invoice yourself on the property (only if you own a business) for services rendered. I put myself in the brokers section on the HUD-1 or below that…which ever the bank prefers…talk with your title company and see what you can work out.
P.S. …you will need a separte “fee agreement” with the end buyer to give to the title company…