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Updated almost 8 years ago,
Wholesalers | Flash Cash | Closing Statements
Hi All, this is my first post.
I am about to purchase a house from a wholesaler who will be using flash cash and wants to do double closing hours apart. Where we are hitting a snag is I am using a VA loan and my lender needs to send out closing disclosures 3 days prior to closing and since the ownership is not under the wholesaler's name, they won't be accurate and the lender won't put the wholesalers name in the documents until they have proof of ownership from him.
His flash cash lender said they would do 7 days prior but want to charge and additional 3 points and he is asking to split it with me. I'm getting a good deal and still making out well even with that option but obviously that's not ideal. Can anyone tell me if you've come across this situation before and how was it handled? Or have any other suggestions? Thank you!