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Updated almost 8 years ago on . Most recent reply

Jermaine Powell's profile image
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Jermaine Powell
  • Wholesaler
  • from Memphis, Tennessee
  • Member since Nov 30, 2015
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Jermaine Powell's profile image
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Jermaine Powell
  • Wholesaler
  • from Memphis, Tennessee
  • Member since Nov 30, 2015
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Jermaine Powell
  • Wholesaler
  • Memphis, TN
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Wholesaling

Wholesale Deal Closing

Jermaine Powell
  • Wholesaler
  • Memphis, TN
Posted

Hey guys, I have a question! If I want to close on a property that I'm putting under contract, but I don't want to do an assignment because Im making too much of a spread, how can I double close on the property with no money??? Thanks for all the help!

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Nick C.'s profile image
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Nick C.
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  • from Tampa, FL
  • Member since Oct 5, 2011
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Nick C.'s profile image
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Nick C.
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  • from Tampa, FL
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Nick C.
  • Specialist
  • Tampa, FL
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Nick C.
  • Specialist
  • Tampa, FL
Replied

Get a contract between you and the seller. Then get a contract between you and the buyer. Give them both with EMD's to a title company or attorney and have them set up a simultaneous closing. Make sure they understand the transaction, and make sure to ask them beforehand. You can buy the house and sell it on the same day.

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