Are You Concerned About Being "In-Title" With a Double-Closing vs. Doing an Assignment?

[Burt L.]

I have a transaction that is on the borderline - has a gross margin of 12K less a 2k marketing fee for finding the buyer, less 1.1k as tenants security deposit is not credited to me, and my side of closing costs. Thus the margin looks larger than it is and if assigned the gross fee must be disclosed and shows as "Fee to X Co".

I can do this simultaneous closing (dry funded) at a total cost of $700, some of which includes the closing costs I would have had to pay anyway. I know that some, including Sharon Vornholt double-close virtually every deal to avoid any problems at the last moment.

Conversely, some are concerned about being "in the chain of title" and that it can create a future liability and shows as a double-close on the same day at the MLS, public records etc, for many years. There may also be a liability for environmental issues if one is in the chain of title, but I would like to believe environmental issues are lesser with residential properties.

I have mentioned that I have a partner in the transaction to the owner, but haven't provided specifics. There is also a tenant that will carry over to the new ownership and of course has a relationship with the current owner. Current owner says he doesn't care what I do with the property afterwards- at least that is the comment for now. The sales price is 250K

How do others balance the issues of being "in-title" with the likelihood of a smoother closing without last-minute issues?