Dealing directly with sellers to secure the best deals is a real estate wholesaler's dream. If the hunt for the perfect residential property is your daily normal, you know double closing in Florida is convenient but a bit complicated. It's a stressful situation no one should have to navigate without expert help.
At Wholesalers Transactional Funding, we understand real estate challenges and will provide the support you need. Here's what you need to know about double-closing residential properties in Florida and how we can help.
Understanding Double Closing
Double closing, also known as "back-to-back" closing, is a two-step process. As a wholesaler, you first purchase a residential property from the seller and then sell it to an end buyer. These transactions usually happen on the same day, which is why they're called "double closing." It's like a two-for-one deal!
In Florida, this process requires the use of real estate attorneys. The first attorney will handle the purchase from the seller, while the second will handle the sale to the end buyer. This can make things more complicated and costly, but it's necessary for a smooth and legal transaction.
Benefits of Partnering with Wholesalers Transactional Funding
Choosing us as your funding partner comes with several advantages:
- Say goodbye to long waiting periods; we provide same-day funding.
- We only charge between 1% and 1.5% so that you can keep more of your profits.
- We cover 100% of the entire purchase price and closing costs.
- We know that in real estate, time is money, and we have no delays.
A Simple Plan for Double Closing in Florida with Us
Ready to make double closing easier with us? Here's how to:
- Contact our team to discuss your financial needs.
- We'll schedule a meeting to discuss your deal further.
- We'll provide all the funding you require to close the deal.
Making Your Move with Wholesalers Transactional Funding
Don't let financing issues stand in the way of your real estate ambitions. With Wholesalers Transactional Funding, you can forget about not securing the necessary residential real estate funding. Apply for transactional funding with us and experience the relief of having all your funding needs met.
Your success in double-closing residential properties in Florida is a win for us, too. Let's work together to make it happen!
NO UPFRONT FEES ♦ NO ADDITIONAL FEES ♦ NO MONTHLY PAYMENTS
NO APPRAISAL ♦ NO CREDIT CHECK
A typical case study
So let's look at the process step-by-step with an example:
- The wholesaler enters into a contract to buy a single-family home from the original seller (let's call him A) for $300,000 - Part 1 of the transaction.
- The end buyer (call her C) signs a contract to buy the wholesaler's property for $350,000 on the same day as Part 1 (i.e., Part 2 of the transaction).
- The wholesaler delivers a BC contract signed by C (the end buyer) to the transactional lender.
- On the day of settlement, the transactional lender lends the funds to the wholesaler to pay A.
- Immediately after completing Part 1 (of the two-part transaction), the wholesaler closes Part 2 and collects C's money.
- C's payment pays back the transactional lender’s fee. The balance goes to the wholesaler's bank account as the realized profit.
- It may look like a complicated procedure, yet it's quite simple. A closing entity (e.g., an attorney or title company) is generally the middle entity acting for the wholesaler in Part 1 and Part 2 of the entire deal. They deal directly with the lender, the original seller, and the end buyer - removing the wholesaler from the heavy lifting.
Have a deal in NC ready for us to fund?
If you live anywhere in the country, we can help you. There are two simple options provided below. Choose one and get started on a road we guarantee you won't regret.