Double Closing: Transactional Funds

[Bryan Igboke]

Hey BP,

I'm a little new to wholesaling and just start learning the ropes. My question is specifically about double closing.

I've been reading that when you double close the end buyer can cover closing costs from the first and second close if it is structured / closed correctly by a knowledgeable attorney title company or attorney, thus bypassing the need for transactional funds. Is this true? How common is this?

Thanks

[Jesse LeBlanc]

Depending on the state and the attorney/title company, it's called "pass through funding", where you can double close and use the BC funds to cover your AB purchase.  Some states this is not allowed, and then even some of the states that it can be done some attorneys or title companies won't allow it.