Potential disaster I need to avoid...

[Shannon Webb]

Hi guys!

So, I am new to this Wholesaling game and while practicing my due diligence, I have run across a potential disaster. I live in the state of Georgia. 

I have a deal that i have been working on and have taken time to consider everything i am supposed to and have come up with a solid offer(I believe). While I am still working things out on the seller's end, I've realized that in Georgia, when it is time to close, I will have to have my own funds to do so. So the 100K offer that I want to give the seller, has to come from my pockets first?

I don't have those type of funds no way no how. And while I know this house could easily sell for 170K and that one of my investors would see this as an amazing deal, How do I facilitate it, If I am not allowed to do a double closing? 

Some places I am hearing that there may be title companies that allow it in Georgia. Others are saying double closings completely illegal! (I'm confused about that as well). I am totally stuck on this. I thought this was what wholesaling was about.... Am I wrong?

Does anyone know if there are title companies in Georgia who allow double closings?

I spoke with the attorney over the probate for the estate and know the seller is motivated. I am set to speak with her next week, and yet I no longer know what my options are. Please help me guys... I feel like I've hit a brick wall.

Thanks in advance!

[Guy Gimenez]

@Shannon Webb

Assignments are a great way to make quick money, but an assignment is a contract, not unlike a purchase contract, so both the assignor and assignee must understand contracts and contract law or they can easily get deep into poo poo that can harm them financially for a long time. 

Too many investors believe they can read a book, listen to a podcast and then jump into investing. That is a mistake and you can read many of the horror stories right here on BP from newbie's who failed to understand that if they won't read a medical book and perform surgery on themselves, it's probably not a good idea to read some blogs and start drafting contracts with no knowledge of the provisions and consequences of such an action.