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Updated over 14 years ago,
Double Closings and costs?
Hey guys,
I'm looking to start out in Sandwich Lease Options as my way into Investing, but I have a question about when it's time to do the double closing.
When my Tenant/Buyer is ready to excercise their option, I will in turn let the Seller know that "I" am also ready to excercise my option. Now, closing costs will come into play? I assume (and really hope) that me being the middle man (B) I wouldnt have to pay closing costs between myself and the seller (A) and between me and Buyer (C) again? It seems like that would eat rather significantly into my profits. So do Title companies do double closings in a specific way or something that prevents me from having to pay double the closing costs, if any?
Any help and insight would be awesome!
I've never bought my own home, so I really am learning everything about the buying process, so I appreciate all you guys help! :D
Thanks!
Oscar Macal