No I do not double close ever.
Out of dozens of deals assigned, only twice have I had an issue where the owner saw the fee, flipped out, and I had to re-negotiate with them and that was early on in my career- and were talking avg. fees of 12k. in my career. I am not paying extra to double close - forget that! unless its a huge fee like 30k+ then I might think about doing it.
Let me explain why this works for me:
1. your upfront negotiating and relationship building with the seller id key. I never completely tell them I'm assigning but I do lay the groundwork for it to be assigned by speaking about equity partners joining in, I may keep the property I may not, etc. That kind of talk.
Look if your not good at sales and building trust and relationships - then get GOOD! period this is HUGE!! Become a salesman, a problem solver, or you wont be good at wholesaling.
2. I have a investor friendly title co. that I've built a bond with and who understands the process and helps me/my team through a settlement. For instance, one thing they do with the HUD is when its time for them to explain it to the seller, they'll take a sheet of paper and cover up the buyers side of it right down the middle - so they are not seeing the any of the buyers fess and our fee (which is buried in it btw) because its none of there business! they do not need to see the buyers side of the HUD. We also do separate closing times - buyer comes and signs first and then the seller comes after signs and walks away with a check
Lastly I tell the seller, if it in fact comes up, the fee I am making is an arrangement between me and my buyer/investor partner - it doesn't affect the negotiated sales price between me, the assignor, and the seller - the seller is not paying for it. Its a mindset people.
Joe from Baltimore
