im a little confused , can anybody explain to me what exactly what selling the deed is and,what is the process of selling the deed and when would you sell the deed, id appreciate anyone who can help me out with this thanx.
thanx for the reply but , i was reading something by ron legrand and he was talking about buying the deed from a prospect and and then selling the note to a buyer or something like that.
A double closing just consists of 2 buyers and 2 sellers. Basically you buy it and sell it within a couple hours, making the difference between sales prices.
This is over-simplified, but I would let the attornies handle the hard stuff! You found the deal - you did your hard part!!
[addsig]
Melji is right. The only real way to do it and profit is sign the contract for the 550 and assign it to end buyer for 580. Making a seperate contract outside of closing is mortgage fraud, a federal offense. Also, are you doing the loan. Almost every state I know has laws preventing lenders to lend on property for which they have a financial interest, including direct family.
Having access to MLS is advantageous because it contains all the homes for sale, under contract and sold. It is a database that is second to none for accurate information. However, it is only open to licensed sales agents. It is costly, but worth it.
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thanx for the reply but , i was reading something by ron legrand and he was talking about buying the deed from a prospect and and then selling the note to a buyer or something like that.
Thanks Matt.
Can you or somebody else explain in detail how does the double closing work?
Thanks in advance.
A double closing just consists of 2 buyers and 2 sellers. Basically you buy it and sell it within a couple hours, making the difference between sales prices.
This is over-simplified, but I would let the attornies handle the hard stuff! You found the deal - you did your hard part!!
[addsig]
Melji is right. The only real way to do it and profit is sign the contract for the 550 and assign it to end buyer for 580. Making a seperate contract outside of closing is mortgage fraud, a federal offense. Also, are you doing the loan. Almost every state I know has laws preventing lenders to lend on property for which they have a financial interest, including direct family.
Having access to MLS is advantageous because it contains all the homes for sale, under contract and sold. It is a database that is second to none for accurate information. However, it is only open to licensed sales agents. It is costly, but worth it.