WET/DRY DOUBLE ESCROW HYBRID ME, THE BANK AND MY BUYER

[Tahir Slater]

Quick facts, I am not a Realtor or Brooker. I conduct all business under my llc. Also I have used the online source referenced below a few times so I know they are legit. My seller is often a bank. My buyers pay cash. 

Scenario: I allow an online resource of discounted properties to put a $2500 hold on my credit card to secure the properties they have available. In a new procedure I am instituting with my end buyers (my investors typically buy sight unseen or they compile a thorough DD packet using free resources) I want to now require that they open escrow to cover my $2500 (should they get cold feet and cause me to lose my $2500 as that is the consequence when my offer is accepted through this resource and I don't purchase) as well as my $3,000 fee ($5,500 total ) and within 72 hrs of the cash offer being accepted, open escrow for the property purchase payable to the seller plus 1 percent payable to my LLC.

Believe it or not all fees and cost are transparent on my end,  and my buyers are aware i don't own the property. I just want to avoid someone waking up one bad morning and deciding not to pay me. I do not expect to touch ANY funds until the deals closed. 

The first escrow is to protect my $2500 investment. Where as long as they purchase as contractually agreed once the offer has been accepted then I'm in no danger is losing my funds, my 3,000 fee is only refundable should the seller change their mind on selling us the property. 

Am I over complicating this? Should i just be opening escrow for purchase with my seller and opening one between my buyer and myself to save the buyer from them having to open 2 escrows? 

Any special contracts i should be using for either? How concise and laborious can escrow instructions be?

Since writing the above I've done quite a bit of research,  and considering my seller are Banks,  and my buyers are cash,  and I have to put up $2,500 (which i don't mind doing,  i consist it skin in the game) before the seller will make a decision to accept my offer,  if they don't accept, and i don't successfully counter my finds are released. If they accept and i don't complete the purchase due to my buyer having a last minute change of heart, they keep the $2,500.  

As far as my profit,  in a perfect world is key then open escrow directly with the bank as long as escrow would adhere to instructions to pay my company out or margin as consultants. I even considered a limited joint venture option. We want a simple, transparent, quick, automated system in which or buyers can benefit from our work ethic and Internet savvy.

Ps, the only dumb questions are the ones i don't ask

Thank all who reply