Wholesaling
Market News & Data
General Info
Real Estate Strategies

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal



Real Estate Classifieds
Reviews & Feedback
Updated over 9 years ago on . Most recent reply

TRICKY RECORDING ISSUE - REO WHOLESALE
Hey folks, I am looking into possibly wholesaling this bank owned property by double closing. However, the bank contract says that the closing agent must record the deed conveying title to the buyer.
I plan on wholesaling this property by double/simultaneous closing. This is why I do not want them to have the closing agent record the deed in my name.
Any suggestions by people who have had prior experience dealing with this will be much appreciated.
Thanks
Most Popular Reply

Double closing implies that for some period of time you do in fact own the property. Recording is an essential step in that process. Twice, in fact. Once from the bank to you and a second recording from you to the end buyer. So there will be not one but two deeds with your name on them. One as grantee, one as grantor. Unavoidable with a double close.