Question regarding double closings...

[Christopher Bohar]

I've had a nagging question regarding double closings as I am just starting out in the wholesaling side of real estate and would like to know something before I start out. As far as double closings are concerned (I am in PA by the way), is it necessary to use a transactional lender to close the deal? I found one in New Jersey that I was talking to who charges a minimum of $2,000 regardless of how small the transaction size or 1.75 percent past a certain transaction amount. In other words, could my end buyer simply bring their money to the title company and I could close the A-B transaction with the funds and cut out the need for transactional funding or do I need to close the A-B first with another source of funds even if the end buyer brings all the money to the table? If anyone understands the rules here in Pennsylvania, that would be great. I understand the higher costs of doing a double closing as opposed to simply assigning a contract and will factor that into my offers but would appreciate the feedback. Thank you :) -Christopher