GREAT VIDEO but im a bit confused, in order to double close do i really have to actually have the money to pay the seller? how does that work? what if i dont have 100k to pay the seller me as the "original buyer" ? the funds gotta be immeadiatly sent or given to the seller after you close with them? or can they wait until i close the deal with the cash buyer later on that day?
So matthew I understand now the idea of double closing thanks to you but I wanna make sure I got it right when it comes to: when to double close. So let's say if I found a buyer that can pay more and will leave me a huge profit , instead of sending him over an Assignment Contract I'll send him the PURCHASE AND SALE AGREEMENT but remove the part where it says he can assign the contract? Is that correct? Also does the buyer has to be informed that I will do double closing?
Hey @yourfilipinava3905 👋🏽 No, you do not have to disclose it to the end buyer or the seller. Since you will actually e purchasing the property for a few hrs, all you need is a purchase and sale agreement with the seller, and then a purchase and sale agreement with the end buyer with the higher number and your fee included. All you need is access to transactional funds… and I can help you with that! Plus I have a free $3200 purchase and sale agreement that’s been drafted by RE attorneys and I’ll give to you for free. Let’s chat some time! @dinobertagna
So you just using the same contract twice..on the first contract being signed it’s the original seller and you (buyer\wholesaler)…n on the 2nd contract it’s you (seller/wholesaler) and the cash buyer…I think I grasp it better…is there any other documents that needs to b signed n sent to the attorney/title company (I live in an attorney state)?
Fees are dependent on who you close with, so ask your whoever you close with how much are closing fees. Once you get the contract signed by the seller you can email the contract over to whoever you are closing with
@papaboy2834 I’m just reaching out as a resource you can utilize in your business; I help people fund their Earnest money or even fund Double closes if you ever find yourself needing that reach out, we can work together, and both make money.
Hey Matthew, thanks for showing this. In your experience with doing double closes, what is the actual sales price that shows up on public record (through Zillow for example) at the end of the day? Would it be the sales price between you and seller or the sales price between you and buyer? Thanks!
I work with land and the majority of the time my buyers require we use their title agent. Doing double closes you obviously want to go through your title agent so won't you typically pay closing costs on both sides?
How do you feel about adding a clause to the assignment contract that states you can renegotiate the purchase price with the original seller and you get the difference as an additional assignment fee and the negotiation of the purchase price will not affect the total due at closing by the assignee?
@@bizmatthew I was more talking along the lines of a issue with the property like the repair cost will be higher than expected to you may want to renegotiate a price with the seller
Mathew, I have a question. If you send the Assignment contract to the buyer can they go behind your back and check the property and buy it from the homeowner ? How can you avoid that? Thanks
Yeah that's the worst case scenario, that's why it's good to communicate with Cashbuyers and vet them out. Honestly it's not a huge issue don't let that stress you out
You can create an clause in you’re assignment contract and it can say “if the assignee attempts to communicate to sellers in any way shape or form it will immediately terminate this assignment agreement and forfeit their deposit for liquidated damages”
Well you put that initially for yourself as the whole seller because you sign as the buyer, so you can always have the option to assign it. But when you now sell it to the buyer you can take that clause out
Nobody teaches this any where else great job Mathew got a lot of value for sure 👌
Thanks man! 👍
@@bizmatthew of course man anytime
GREAT VIDEO but im a bit confused, in order to double close do i really have to actually have the money to pay the seller? how does that work? what if i dont have 100k to pay the seller me as the "original buyer" ? the funds gotta be immeadiatly sent or given to the seller after you close with them? or can they wait until i close the deal with the cash buyer later on that day?
Quick question Matthew! How does double closing working with a JV deal?
This is the best youtube for Wholesale Real Estate. 🔥
Thanks 💪🏾
So matthew I understand now the idea of double closing thanks to you but I wanna make sure I got it right when it comes to: when to double close. So let's say if I found a buyer that can pay more and will leave me a huge profit , instead of sending him over an Assignment Contract I'll send him the PURCHASE AND SALE AGREEMENT but remove the part where it says he can assign the contract? Is that correct? Also does the buyer has to be informed that I will do double closing?
Hey @yourfilipinava3905 👋🏽
No, you do not have to disclose it to the end buyer or the seller. Since you will actually e purchasing the property for a few hrs, all you need is a purchase and sale agreement with the seller, and then a purchase and sale agreement with the end buyer with the higher number and your fee included. All you need is access to transactional funds… and I can help you with that! Plus I have a free $3200 purchase and sale agreement that’s been drafted by RE attorneys and I’ll give to you for free.
Let’s chat some time!
@dinobertagna
Thank you Matthew, haven't seen nobody explain this with details like you
Awesome! Thanks 👍
Excellent clear explanation. Thank you
Thanks for sharing❣️
So you just using the same contract twice..on the first contract being signed it’s the original seller and you (buyer\wholesaler)…n on the 2nd contract it’s you (seller/wholesaler) and the cash buyer…I think I grasp it better…is there any other documents that needs to b signed n sent to the attorney/title company (I live in an attorney state)?
Exactly. You have to check with your title company or closing attorney there are any additional documents needed
How much do you pay for double closing? Also if I'm doing this virtually. Do i send both purchase agreement to the closing attorney through DocuSign?
Fees are dependent on who you close with, so ask your whoever you close with how much are closing fees. Once you get the contract signed by the seller you can email the contract over to whoever you are closing with
@papaboy2834 I’m just reaching out as a resource you can utilize in your business; I help people fund their Earnest money or even fund Double closes if you ever find yourself needing that reach out, we can work together, and both make money.
Hey Matthew, thanks for showing this. In your experience with doing double closes, what is the actual sales price that shows up on public record (through Zillow for example) at the end of the day? Would it be the sales price between you and seller or the sales price between you and buyer? Thanks!
Technically both should show up
Hey Matthew are you still doing coaching calls?
Thanks for this btw.
Right now I just offer the online course you can check in the description
I work with land and the majority of the time my buyers require we use their title agent. Doing double closes you obviously want to go through your title agent so won't you typically pay closing costs on both sides?
Whether it's yours or theirs most likely you still have to pay those double cost
how did you learn to wholesale?
Watching videos like these!
How do you feel about adding a clause to the assignment contract that states you can renegotiate the purchase price with the original seller and you get the difference as an additional assignment fee and the negotiation of the purchase price will not affect the total due at closing by the assignee?
Yeah that is something that you can do, but why even do that? I hate going back to a seller and offering them a lower price,
@@bizmatthew I was more talking along the lines of a issue with the property like the repair cost will be higher than expected to you may want to renegotiate a price with the seller
Mathew, I have a question. If you send the Assignment contract to the buyer can they go behind your back and check the property and buy it from the homeowner ? How can you avoid that? Thanks
Yeah that's the worst case scenario, that's why it's good to communicate with Cashbuyers and vet them out. Honestly it's not a huge issue don't let that stress you out
You can create an clause in you’re assignment contract and it can say “if the assignee attempts to communicate to sellers in any way shape or form it will immediately terminate this assignment agreement and forfeit their deposit for liquidated damages”
Do you disclose to your cash buyer that you double closed?
You do not have to.
So basically your just using the same purchase and sale agreement you signed with the seller to close and to close with the buyer.
Exactly
As the Seller, on Line 9 of the contract why would you allow the Cash Buyer to Assign the contract?
Well you put that initially for yourself as the whole seller because you sign as the buyer, so you can always have the option to assign it. But when you now sell it to the buyer you can take that clause out