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Updated over 15 years ago on .

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Ro Goudy
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1
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Double Close alternatives

Ro Goudy
Posted

I apologize if this has been covered in another post, I tried my best to search through all of the other double close posts. Here is my question.

I am pretty well versed in the art of the double close as well as the assignment of contracts but in this day of ever so quickly changing rule/laws/regulations I have found it tougher to find lenders willing to offer financing to my end buyer. They either don't like the fact that the contract is being assigned, or the fact that I'm doing a actual double close so there is seasoning issues. I received a suggestion from a colleague to negotiate a seperate contract with the seller to place me on the deed for 30days so that once the deal is closed I am to be paid out of closing. Is this do able or is there a simpler way to get this done. I know mechanics liens are dead and I'm afraid that attempting to put a assignment fee on the hud for more than $50k will raise a red flag since the properties are all short sales. I know this is alot to put in one post but I appreciate any and all feedback that I can receive.

Thanx in Advance