Cash Deals thru Assignments --Quick question!

[Demetrus Gibson]

Hey guys I'm just clearing up a few things...this feels like a really dumb question but I need you guys to straighten me out

Discussing wholesaling/ assignments:
Question#1
What are the forms of "Cash" as described by the title co
1."dollars"
2.Cashier checks
3.Money orders??
4.????what other forms???

Question#2
But on a simultaneous close, does transactional funding have to be one of the methods of "cash"?

Thanks for you help
Demetrus

[Carlos Flores]

Irrespective of whether it is a cash transaction or financed, in order to close, the money generally has to be in "good funds" as described by state law or the regulatory agency that oversees title companies in your state. Arkansas has a good funds law. Google it.

As for who pays what, it should be spelled out in the contract(s). In wholesale transactions, I'd expect the end buyer to pay all closing costs except perhaps curative issues/expenses which should be paid by seller A. Note that I am not including prorated items here such as taxes, etc.