simultaneous closing

[Cecelia A]

Hi,

I'm still a bit unclear on simultaneous closings where we use C's money to fund AB. Who pays for closing? My understanding is that C pays for closing cost for BC, including my attorney's fees, and B (me) pays for closing for AB, is that right? I always get title insurance for my end buyer C, but is that going to come out of my profit margin? or is C going to cover it when he closes?

Thanks in advance!

[J Scott]

I think it's unlikely that you're going to find any title companies that still do simultaneous closings these days. More than likely, you'll have to do back-to-back closings, where you close the A-B transaction with your own (or borrowed) funds and then close the B-C transaction afterwards.