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Updated almost 2 years ago,
Double Close Confusion
Hi Everyone,
New to BP & Wholesaling and hoping someone can help me understand the double close strategy a little better. I get the general concept.. but struggling to understand all the fees.
So from what I gathered, you will end up paying two sets of closing costs (A to B, and then B to C).
Questions-
As wholesalers, we also cover the seller's closing cost to make the offer more appealing. So.. are you paying 3 sets of closing costs to get the deal done?
In Pennsylvania, typical closing costs can be anywhere from 5%-6% of the sale price. So would I need to factor in 12%-18% of the sale price into the deal to cover 2 to 3 sets of closing costs? Or am I way off base?
Sorry if this is a dumb question.. Still learning. I just can't wrap my head around the fees.
Thanks in advance.