Real Estate Closing – Real Estate Closings For Wholesale Property Deals

www.REIClub.com – What Happens During Real Estate Closings? Here Are A Few Tips On Closing Real Estate As a Wholesaler… Hi, this isFrank Chen with REIClub.com, the only site you need as a real estate investor. Today I’ve got quick video on how a typical wholesale closing works. The first thing you have to do is find is a title company Title company, closing agent/attorney – Quick – avg 3 business days – Attorney – look over title work, cleared Types of Closings – (money usually sits in closing escrow) – Simultaneous closing (aka. double closing, back to back closing) – using buyer funds to close, buyer shows up first (morning), purpose of this close is to obtain cash at closing. – Transactional – using short term third party funds to close – Find the buyer (C of transaction) to repay the third party. Location – prefer using your closing agent for all real estate closings – ease of paperwork – saves time, energy and money – closing agent that understands wholesaling deals – back to back closings, double closings – make sure the seller and buyer show up at different times (morning vs afternoon) Closing Costs – negotiable – Wire fees – Attorney fees – Tax Service Fee – Title Insurance – Title Examination Fee – Deed Preparation – Etc… – although two closings – A to B to C closing – should not have to pay two full sets of fees – be more flexible with seller side – buyers are more flexible with you Seller Closing – comes in afternoon to sign docs – seller does not need to
Video Rating: 5 / 5

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