Double Closing vs. Separate Closing

[Ross Rauschenbach]

Hi Everyone,

I'm new to the forums but I've been doing research into wholesaling as a way to get started in real estate investing. It seems like there is a lot of conflicting info out there so I was hoping that someone here could clear things up for me.

I understand that if you don't want your seller to see the amount of your assignment fee you can do a blind HUD, but I was wondering if you have to close with the seller before you close with your buyer. I've heard that you can close with your buyer first but that seems kind of sketchy since I wouldn't actually own the house yet.

Also, why are title companies so leery to tell you what you can and can't do? I called one today to ask about the closing process and they just told me they don't like to do deals like that but she didn't say they wouldn't. She recommend that I speak to an attorney before doing anything but I don't have enough money to afford an attorney. 

I really want to learn more about this so I can move on and start making offers. I'm in Houston, TX if that helps. 

[Account Closed]

@Ross Rauschenbach 

Hey Ross, don't let title company tell you what you can and can't do.  If they don't wanna do a double closing, take your business somewhere else and i'm sure there is a title company out there that will be more than happy to help  you out.  Also, when you double close, the title company gets to make more from the double transaction.  If the title company is backing away from the deal, it's their loss.  I don't know any title company that won't do a double closing in Houston, TX.  I can name like 5 title companies that will be more than happy to assist you with double closing.

Also, you should always close your property with your seller first to avoid your investors from going behind your back trying to get the property from you.  You never really know who you are working with unless you know whoever you are working with for a long time and you can trust that he/she won't try to go behind your back to steal your deals.

Good Luck Ross...