How do I avoid two closings

[Louis Walker]

I'm really close to my first purchase and want to know how do I avoid two closing costs. I plan to refinance and pull money out but I know that the purchase will have closing costs, the refinance will have closing costs. Is there a way to avoid this?

[Matt Devincenzo]

No, you have to close in order to then have something to refinance. If you don't close initially then the seller still owns the property not you...so there'd be no way the lender will loan 'you' money on a property your seller owns.