ANY ONE KNOW THE ANSWER????

[real estate 001]

   HEY with all the subprime going or gone  ,and  the loans getting harder to get !!


 MY question is this     IS any one know of any one who is doing  simultaneous closings   any more  any where ???


  THANK YOU ONE AND ALL FOR YOUR INPUT

[christopher w]

I am working on one that is closing this week. What exactly are the parameters of the deal?

[real estate 001]

       HEY CHRIS  thank you for the post     

 YOU are speaking of the owner finance  simo  close right ??   


 Where  the owner   gives  temporay finance and the note is all ready sold  at the close  right ??? 

[christopher w]

The deal I am working on is SIMO closing where a buyer bought a house for 279K from a builder. We recorded the deed yesterday morning. The title company updated immediately and we are closing today on the new purchase at a sale price of 365k.

[real estate 001]

    OKAY   this is  what iam dealling with   i do not think we are on the same page ???

   
 buyer puts  10 % or more down   and the sellers carry back a (temporay)  note  for the balance . AT the close the  sellers note all ready has a buyer in place for  the note .

 ALL SO called  table funding     SO the seller  has the note only at most a week  if that

[real estate 001]

   CHRIS   i think  you may be thinking  of a double  close???   THERE is no second sale  just the one

[christopher w]

Youmay be right. I apologize for the misunderstanding.

[real estate 001]

      NO problem


 THE whole thing  is really  a note buy   but it is all done and said  before the  deal is complet !!

 WHERE by some  note broker  // loan person finds a investor to buy the  note  for a set discount  at the close . THIS all is set in place  before  the note is really made