Double Closing Fundamentals

[Nicolas Feraud]

Hi there,

I'm looking to do a double closing for a big 245 unit building priced 27.5M

the funds are comming from a very big hedge fund, typically I would assign the contract and get an assignment fee, but these guys are not allowed to pay fees, So I though of the double closing as a viable option to make a profit.

Now, my lawyer/escrow company told me that I will have to send an earnest money deposit to fullfil my obligations with the seller and then I will get an earnest money deposit from the buyer.

My question is, can I use the earnest money deposit from the buyer to pay the seller? so I dont have to put money out of my pocket?

Thanks a lot,

Nico