What happens if a Buyer doesn't Buy in Double Close?

[Eric Lawson]

Hey everybody,

If you are wholesaling a property via double-close and you go through with the A to B transaction, what happens if the B to C transaction falls through? From my understanding I technically own the house after the A to B transaction. Is it as simple as adding a clause in the A to B contract allowing me, say 24 hours or so before the sale is final to make sure the B to C transaction goes through? Any help is appreciated. 

[Larry F.]

Great Question:

If you are contractually committed to close on the A to B side of the deal then your committed. Adding additional clauses depends on you getting the Seller (A) to agree to an assignment of your contract. If you fail to close you will lose your deposit (earnest money).

In future make sure that your "C: Buyer has deposited money into escrow account prior to signing agreement (proof of funds) or shortly thereafter.

Good Luck And Thanks for your service!!