back to back closings

I really appreciate what you posted;

I am a newbie and getting quite upset because I can't find a company who handle closings or double closings; how do I go about searching the web for this information?
thank you once again for all your help in this area;

Teescott

www.oldschooltitle.com or Flagship Title in Tampa Fl. will handle back to back closings in all 50 states.
You can use www.coastal-funding.com to do a one day funding for your deals.

I will keep you posted on this sistreat....
you are so helpful......thank you so much again.....

If you are trying to do assignment of contract with an REO and /or a short sale with a lender as an assignment of contract and you are running into obstacles go to coastal-funding.com. They may be able to help you.

Thank you so much joertle for that advise I will contact them right now....
I will keep you posted...

Teescott

I heard both yes and no. I want to know how this pertains to cash closings mostly . Thanks!

Request a discount from the title company as you will have escrow fees a to b and b to c. You can always contract your seller and/or the end buyer to pay your closing cost if there is room to keep it a good deal.

Thanks for posting the information and insight. This is an important area to know so when the opportunity presents itself, yo uwil lknow what to do. Bleieve and Achieve! - Joe

Thanks for the info, the last thing you want to be stuck with is a half done deal because you forgot to ask if the company can double closings or not.

As we say in the military, Carry on good Sir...

Let me explain closing cost a bit more with this type of transaction. Closing costs are usually paid for by the buyer (you). The closing cost to you for purchasing the property using Coastal Funding will be very small since it is a cash closing and Coastal Funding will pay the closing costs. Keep this in mind when you set the sales price to resell the property because it will come out of the profits you make. The second close is paid for by the end buyer so you should not have to worry about that amount of closing cost. Any double closings that you do will require you using the same closing company.

eroberts? What do you mean Coastal Funding pays closing costs? Do I just pay them that 2 points fee and that's it? Does my endbuyer pays title search.title insurance , etc fees?

So will i have to know the cost to purchase the home plus the closing costs before i request the POF letter from Coastal?

Well I did find a company that handles these types of transactions. I just got the phone book and randomly called title companies. Luckily I found one on the second call. They happen to handle all kinds of creative transactions because they cater to the investor type more so. The owner even told me if I am doing business with them they have no problem doing preliminary title searches for free when ever I need. He said just call up. So just call around.I assume maybe you can get an estimate of closing cost through your title company so you know how mcuh you need to request from coastal.

Kinjuss, great work on finding the title company. Sometimes the simple, straight forward approach of calling from the phone book is the best. That title company sounds like a great resource since they are open to creative financing and have investor experience. Closing costs are usually predictable since many of the functions being paid have a known cost. For example, appraisals, filing fees, title insurance and local assessments are usually the same from deal to deal or at the very least based on the amount of the transaction.

I met with the owner of the title company to discuss a closing of my first deal. His compnay is an independent compnay so he charges very fairly AND DOES NOT CHARGE ANY JUNK FEES. His charges one fee depending on the price of the house being bought determines what the closing cost will be. This transaction will a double closing maybe. H esaid he will be able to keep me out the chain of title and just have my seller transfer the deed straight to my buyer. Or I can close with my buyer first and then close with my seller. But I will let him just do the straight route of transferring the deed straight to my buyer. He will be paying cash and my seller knows the house is being sold to someone else. Plus she doesnt care she just wants to sell the house. So I can basically just collect a check. All works out my first deal will be an assignment of contract. I will make 5 or 6k. I help a lady relieve her debt debt, make some money in the middle and my end buyer gets a sweet sweet deal. Hoping for closign to take place on the 12th of March.

He asked if it was ok if he told some of his investor buddies about my deal. I said sure. He works with builders, developers, commercial investors, residential investors, and most importantly he is an active investor himself. He is a cool dude to. I may wholesale some of my deals to him soon. Worked out great for me. Happy I found this guy.

these are the type of tittle co, i like to send my double closings to......