The issue with double closings is to points brought out by ALTA as to having good title before passing title, if the first buyer doesn't have good funds available to close they are not paying consideration.I suspect that if there is any issue with assignments, it's a local bias.

You may not use your buyer's funds to close your purchase transaction, new ALTA requirements in effect, no title company, closing attorney or settlement agent may use escrowed funds for another transaction. :) 

Or get it under contract and wholesale it.Do you have an ALTA survey, Phase I?

Experienced in FHA, VA, USDA and ALT-A REO sales as well as Direct Sales, too.

If you want to pay for a ALTA survey, they can issue extended title insurance warranting property lines and easements on the property.

Both are wet closing states.We needed to collect the new deed, the ALTA and the check so we could be paid by the brokerage. 

One is called ALTA 92 title insurance and the other is called ALTA 98 title insurance.

Congrats on your venture @Nitesh Gandhi, personally I look for multifamily in the Alta Vista, Beacon Hill, and Edison areas for value add.

Below some answers to your questions 3) I am assuming that they can't delete a foreclosure record on the property, it will show as dismissed but the record will stay with the parcel.4) The title insurance and your ALTA statement should say that the previous mortgage was paid, if it doesn't then the title insurance did not do their job.Again, reach out to an attorney asap. 

I would be sure to get coverage with an ALTA 34 endorsement.