How do we wholesale?

[Brennen Finchum]

I'm trying to understand the wholesaling process after the seller agrees to an amount. Do you do two closings: one for you and the seller and the other with you and the buyer? Do you go to one closing with you, the seller, and the buyer? Do you pay closing costs or does the buyer pay the closing costs? I've been reading through the wholesaling bible, but am still looking for some clarity. Thanks!

[Barry Pekin]

@Brennen Finchum,

You need to get to know a good local title company.  If you're doing a double closing, you might be able to do a "dry closing" where the funds from the second closing are used to fund the first closing.  If they can't do this, then either (1) find another title company, or (2) find a hard money lender for a transactional loan.

The single closing is the simplest.  Don't worry about the buyer and seller going direct because the buyer would be burning a bridge for future deals, and the seller would be in violation of your contract with them.