Large Multi-units Wholesale: Using Buyer's Funds to Close?

[Lokesh W.]

I have buyer for a multi-unit who will pay cash for properties with a limit of $3MM. Other than double closing, is there any way, I can close using his funds. For larger amounts, even double closing itself can cost a lot.

I have heard about opening an escrow with one company (company-A) and closing with another title company (company-B). During closing with company – B, we request funds from our escrow at company-A. Has anyone done this before? Are there any articles anywhere regarding this?

Any suggestions are greatly appreciated.

[Bill Gulley]

Why not form an LLC or other entity with you and your buyer and just be up front with your fee, then you simply resign after being bought out at closing. He can bring the money to closing and you don't have to fool with the dollar shuffel.

Going to more trouble, buy with 100% seller financing and then sell paying off the note immediately after your purchase, you can also trim some of the closing costs....just so long as the closing agent can show that the A transaction can stand on its own merit.