Double Close
Hi,
I wonder if anyone could recommend a title company that would do double closing? I am in Northern California. I called many and most gives me the "it's unethical" answers. But none could tell me if it's specified anywhere in escrow guideline that it's unethical, they said it was based upon their "experience." I think it's garbage, my RE attorney said it's perfectly legal and they just aren't used to our investor's way of doing business.
Thanks in advanced for your help.
WealthRabbit
If your RE attorney says that it is legal then why don't you just let him do the closing? In CA do you need a title company to do the transaction? In PA an attorney can do these transaction.
Terry
What is a double close?
a double close is when your seller and your buyer are in the same Closing office. And you sign the paper work to buy the house and then turn around to another room and sign the paper work to sell the house, your buyers money is used to pay your seller and you get the difference. Simaltanious closing.
I know many states especially east coast uses attorneys, but in CA we use title companies. Attorneys are expensive if they are hired to do closing because so many paperwork involved.
Double close is exactly what fap described, except most companies requires two loans for two transactions not one loan for two, which is why I need help. In addition to that, does anybody have ideas on sovling title seasoning issue from buyer's lender?