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Updated over 8 years ago on . Most recent reply

Dan Welch's profile image
Dan Welch's profile image
Dan Welch
  • Foreclosure Specialist
  • from Waller, Texas
  • Member since May 19, 2016
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Dan Welch's profile image
Dan Welch's profile image
Dan Welch
  • Foreclosure Specialist
  • from Waller, Texas
  • Member since May 19, 2016
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Dan Welch
  • Foreclosure Specialist
  • Waller, TX
0
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Starting Out

Double Close/Funding

Dan Welch
  • Foreclosure Specialist
  • Waller, TX
Posted

Hey Folks, I am looking to do some wholesale investing in Texas and I'm a total NEWB. If I double close and the buyer(C) is coming to closing the same day, would I be responsible for funding the part A-B transaction (seller to myself)? If that isn't clear, I can try to explain it another way. Most of you old timers should know what I mean. Any help would be greatly appreciated. Cheers, DW

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Martin Zagrzejewski's profile image
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Martin Zagrzejewski
  • Investor
  • from Pearland, Texas
  • Member since Aug 25, 2013
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Martin Zagrzejewski's profile image
Martin Zagrzejewski's profile image
Martin Zagrzejewski
  • Investor
  • from Pearland, Texas
  • Member since Aug 25, 2013
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Martin Zagrzejewski
  • Investor
  • Pearland, TX
37
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Martin Zagrzejewski
  • Investor
  • Pearland, TX
Replied

Yes you are responsible for the A to B portion. Just use a transactional lender. It is not illegal no matter what other people say. My real estate lawyer has 30 years experience and if he says it's okay then I'm satisfied.

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