I have come across some land that someone is selling for 20k. I have found someone who is willing to pay 35k for this land. What’s the best way for me to pursue this deal? Do I buy the property from the seller and go through that whole closing process (transfering titles etc) and then sell it to the new buyer doing another closing (will this take some time before I can sell to the new buyer? Or
Do I tell the seller they will get a check for 35k, 20k for the land, and 15k.
Or
Do I assign the contract to the new buyer? If I asign the contract, how do I prevent the new buyer from finding out what I purchased the land for or the price I have it under contract for until after i get my money? Can I do a double closing? Im stuck and dont want the deal fall apart
Thanks
There is no reason for your buyer to know how much you paid for the property. It’s not like you’re hiding anything (is it?) and if he knows you’re an investor, he may already know that your making a profit.
You can do straight purchase contracts with both buyer and seller and do a double closing. You do not have to be in the room with buyer and seller at the same time for that.
Of course I’m new at this and I could be wrong 