A Double Closing is the simultaneous purchase and sale of real property. In a typical double-closing scenario, a real estate investor acquires property from a seller at one price and immediately resells it to an end-buyer at a higher price. The difference between the two prices represents the investor’s profit. Double Closings are also commonly-referred to as simultaneous, back-to-back, or same-day closings.
We have, and will, handle double closings under limited circumstances:
- If the end-buyer is financing their sale, the lender must be specifically informed that the transaction involves a double closing.
- The buy-side transaction cannot be a short sale.
As a practical matter, double closings are only going to be possible if the end-buyer is paying with private money, hard money, or cash. No retail lender, in our experience, will approve a double closing transaction.
Harlan Florence is an Atlanta-based boutique law firm that believes there’s a better way to handle your real estate closing. We’d love to work with you. Contact us today, and let’s see what we can do together.