All Forum Posts by: Steven Matthew feliciano

Hello everyone on BP! So I recently just started up my career in wholesaling down in south Florida. And yesterday morning I managed to come to an agreement on an offer with a seller. I explained to the seller how the contract works and he agreed to sign. 1 day prior to this event, I emailed an escrow, title company that does a lot of work with a local real estate wholesale company called BREIA. In the email I stated that I was looking for a reliable escrow, title company I could bring business to. The owner of the company replied to me after I negotiated with my seller and informed me that in order for a wholesale transaction to legally take place I first have to close contract A with my own money, a lender, or transactional funds before I can close my assignment contract. To my understanding this is considered a “Double close” am I right? Is closing simultaneously ilegall? Can anyone refer me to another escrow service I. South Florida?

Hello to everyone on BP!!! I have a quick question I’m sure that can be answered briefly. Okay so I understand the purchase and sale agreement contracts and the assignement contracts but I don’t understand the process you go through with an attorney or title company. When I make a deal with a seller and the seller agrees to sign the contract and I hand over X amount of earnest money. Do I need to go to the title company for this transaction to take place? Do I need to sign contract A at the title company or attorneys office? And vice versea for contract B? Where do both transactions need to take place?

Hello to everyone on BP!!! I have a quick question I’m sure that can be answered briefly. Okay so I understand the purchase and sale agreement contracts and the assignement contracts but I don’t understand the process you go through with an attorney or title company. When I make a deal with a seller and the seller agrees to sign the contract and I hand over X amount of earnest money. Do I need to go to the title company for this transaction to take place? Do I need to sign contract A at the title company or attorneys office? And vice versea for contract B? Where do both transactions need to take place?