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Updated almost 10 years ago on . Most recent reply
Wholesaling: closing a deal. Lowkey profits.
I have yet to do my first deal, but I am curious about closing deals.
I have been researching and found that occasionally when sellers find out that your are making a profit by wholesaling their property via closing statement, they can become angry and walk out on the deal. I know that doing a double closing makes it impossible for the seller to see your profit, but that costs more in closing costs. I also found that there is something called a "Seller's side HUD". this makes buyer and seller both only to see their totals. I found out that it is illegal to use this HUD if the buyer is paying with a mortgage.
My question is, is there a way beside double closing, that makes it impossible for the seller to see your profit, IF the buyer is buying the contract with a mortgage.