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escrow company that does double closings in Los angeles?
i am looking for a escrow company that does double closings in the Los Angeles area. does anyone know of any?
#1 Foreclosures Contributor
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- West Palm Beach, FL
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#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
Do you mean one that will use the end buyers funds for the initial purchase, so you don't have to have any money? If you have funds for the first one, any of them will do a "double closing".
yes optima escrow in Torrance. You can ask for Danette. double closing as in a transaction that offers full transparency. Eg buyer knows he is purchasing a contract and seller knows and has signed an assignment clause.
Originally posted by @Victor Argueta:
yes optima escrow in Torrance. You can ask for Danette. double closing as in a transaction that offers full transparency. Eg buyer knows he is purchasing a contract and seller knows and has signed an assignment clause.
Double closing as in end buyer will not know my wholesale fee. Buyer will know I am selling a contract with rights to purchase the property and seller knows I can assign it to another investor or partner if I choose. Will they do this at optima escrow?
give her a call and ask her directly. She is very helpful. I as most investors dont mind paying the wholesale fee as long as the deal makes sense. Heck i would pay 50k in WF if it makes sense. So no need to worry about that.
Originally posted by @Victor Argueta:
give her a call and ask her directly. She is very helpful. I as most investors dont mind paying the wholesale fee as long as the deal makes sense. Heck i would pay 50k in WF if it makes sense. So no need to worry about that.
Thanks appreciate it. Are u a cash buyer ?
yes. when you speak to Danatte, she can verify how many units I purchase a month.
hi @GilbertGomez I've been calling around and the escrow offices which I have reached out to do have the double closing options but it is transparent, meaning that the buyer will know that I will be using his/her funds to blanket my whole transaction. That doesn't really help as I need a company that will not be transparent. Have you had any luck?
I am not 100% sure, but the transparency may be a regulation in CA.
I know escrow companies that do double escrow, ab and bc closing, but the transactions have to be independently funded. Meaning, they won't allow you to cover ab with funds from C, but if you find what you are looking for, let me know :)
@Victor Argueta Hi Victor! Can you message me their contact info? When I went to their website, there was really no info.
Thanks!
You do't need to hide anything from investor buyer. Personally, I would be very suspicious of anybody who is looking for non-transparency. Be honest with your buyers and sellers. There are a lot of so-called "gurus" out there who teach this idea that you need to hide things. They are scammers. The only time you need to hide your transaction is if you are buying from a bank..or from HUD...if it is a homeowner, they should know that you plan to sell your deal. If they agree to the deal, but you suspect they may still have a problem with you making money on the deal, then that's a different story. Just make sure the cost of the double close doesn't severely cut into your profit.