[Arcinio Arauz]

Arcinio Arauz

What works best when we tie up a house:

1. a double escrow if title company will allow it

or
2. an assignment to assign the deal to an end buyer

One lady at one title company told me that assignment fees are paid only to brokers. That’s why I generally do a double escrow.
Someone else tells me that if I can assign the deal to an end buyer, I stay further away from chain of title. Please explain and where can I find a document for this (assignment)?

[Jackie Lange]

Jackie Lange

either one works fine if you already have a good relationship with a title company who will close the simultaneous

however…

if you do an assignment, the seller and the buyer know exactly what your profit is. If your profit is a lot, they could both back out of the deal.

With a simultaneous close, the seller and buyer do not know your profit and YOU do not need to be on title. You can take title in a land trust with an out of state trustee, so YOU are hidden.
or
You can set up an LLC then sell the LLC so the buyer is the LLC, just a different owner.

there is always a way when you have a motivated sellers, a willing buyer, and YOU who found a GREAT deal.