Double Escrow Question

[David Littleton]

I've been calling attorneys and a few of them have said when you do a double close i have to bring cash to the table as well as the end cash buyer.

So if the property is 50k and I'm flipping it for 60, I would have to bring 50 to closing and the cash buyer would bring 60 and I would walk away with 60k (including the 50k I brought)

Is that correct or should i keep looking for attorneys?

[Tom Gimer]

@Will Barnard Sorry, I was not searching old threads to prove a point. I got a keyword alert on this!

I agree the landscape has certainly changed.

[Sergio Padilla]

Quote from @Tom Gimer:

Originally posted by @Will Barnard:

There is also what is called a simultaneous close where the funds from the C buyer are used to close both A to B and B to C, however, many title companies will not insure the transaction making it not possible in many instances. While this is not "illegal" it is more difficult to accomplish.

Ever wonder why this is more difficult to accomplish? 

Hint... it has nothing to do with insurance. 

Never been involved with one...but my guess would be...because you need to disclose to every party involved about the double escrow?