What does closing look like, specifically? Double closing?

[Alexander Woyte]

   Hi, I'm interested in wholesaling real estate, primarily because of the lack of barrier to entry when it comes to starting costs. I have a lot of questions, so let me know if you can answer any of them at all. Hopefully there's no rule against asking too many questions hehe. Thanks in advance.

Now, in my research I've found that where I'm from, Wisconsin, it's not legal/safe to do assignment contracts without a Real Estate license. Now, I could get a license and simplify things a bit but it seems expensive and time consuming, I'd rather save that for later if/when I know that REI is the right path for me. Anyway, that only seems to leave me with the option of double closing. It's kind of a lot to get my head around, the final bits are what I'm sort of unsure of. Here's my understanding of the process so far:

[ after agreeing upon a price with the seller and having interested buyers ]

• Make sure the title is clear. [ and/or buy title insurance? Would you say this is 100% necessary if I know the title is clean? ]
• Sign purchase agreement with the seller ("A to B." Leave room in the contract to allow me a way out of the contract if things don't go as planned.)
• Agree with buyer ("B to C") on a price andhave them sign a purchase agreement.
• Show both contracts to a transactional lender to receive funding for "A to B."
• Contact a title closing company with the contracts. [ Do I need any more than this, other than the initial purchase agreements and funding for the closing company? ]

What about the role of a closing lawyer? Do I need one? They seem very expensive and that could really eat into profits, I'm not sure if it's worth going with one right away. I already have a sort of "general purpose" LLC that I plan on using when it comes to putting a name on the title, just to cover that base.

   As far as purchase agreements go, I found some very simple ones that can be used as templates online. They also allow me to exit the contract under certain conditions, which is useful. Anyway, should I use these if at all possible? Or would this just be a blatantly bad idea, as opposed to using something more complicated and state approved? Should I use the same form for both the buyer and the seller?

   I might be overthinking this but I want to make sure I understand this so that I won't have to figure it out all in the moment. I'm going to a real estate talk/meetup tomorrow that will cover some things about wholesaling, so I'll ask for some thoughts and opinions there. I just figured I'd see what I can get on here too. I know this is a lot of questions but I'm super new to this, anything helps and I'd like to see as many different perspectives as I can. I could be wrong about 100% of this for all I know. Thanks!

Alex