are REO simultaneous Closings for real.?

[Edgar Martinez]

I'm a Real Estate investor from Texas, and I have just recently decided to start wholesaling (double-closing) REO properties (since they're all over the map) but I soon ran into a problem. I purchased a property at a great discount, marketed it and quickly lined up a (cash) buyer and tried to double close on it, and that's when I found out that is a lot harder than anticipated.

I used my own money to close the A-B transaction (on a Monday) then turned around and closed with my (cash) buyer on Wednesday. (everything was going according to plan until) My Title company notified us that they could not disperse the founds until the Bank's Title company could provide them with a proof or receipt that indicated that the deed had been properly recorded in the county's office (from the A-B transaction).

And here we are a week later and still no funds, the bank's title company has completely and absolutely refused to provide us with such documents. And I am wondering how are other investors around the country going about this.? has anybody else encounter such a thing? is there a way around this.?

Your comments and suggestions will be greatly appreciated.

Thanks.!

Edgar G