Nope. But they might depending on how you structure your closing. If your doing a simultaneous close your buyer will be out in ithe waiting room while business is being taken care of on the sellers end. When that is done, the buyer is brought in to complete the transaction. Even under these circumstances, the seller and buyer don't have to know each other even exist.
A simultaneous close is a process by which someone selling their property normally carries the note or take back the note on the property and sell the note at the same time they close on the sale of the property. The simultaneous closing is two separate closings that may occur near-simultaneously.
A double close is a closing wherein a property is bought and then sold simultaneously. Also called double escrow and flipping.
And yet there is:
The open title close is a process by which the Title Company closes the sale of your property with your buyer and than uses proceeds from sale to close with your seller.
Good lord too much time on my hands today!
[addsig]
I normally just do an open title close when I want my buyer to pay for my seller. As for not paying closing cost it does not matter as this process is negotiated between you, your buyer and or the seller.
[addsig]
Nope. But they might depending on how you structure your closing. If your doing a simultaneous close your buyer will be out in ithe waiting room while business is being taken care of on the sellers end. When that is done, the buyer is brought in to complete the transaction. Even under these circumstances, the seller and buyer don't have to know each other even exist.
Is a simultaneous close and double the samething?
Is a simultaneous close and double the samething?
Kind of:
A simultaneous close is a process by which someone selling their property normally carries the note or take back the note on the property and sell the note at the same time they close on the sale of the property. The simultaneous closing is two separate closings that may occur near-simultaneously.
A double close is a closing wherein a property is bought and then sold simultaneously. Also called double escrow and flipping.
And yet there is:
The open title close is a process by which the Title Company closes the sale of your property with your buyer and than uses proceeds from sale to close with your seller.
Good lord too much time on my hands today!
[addsig]
if im wholesaling a property which one should i do? since i dont want to pay for the closing
focusonmoney
I normally just do an open title close when I want my buyer to pay for my seller. As for not paying closing cost it does not matter as this process is negotiated between you, your buyer and or the seller.
[addsig]