[Nathan Kenny]

Nathan Kenny

Hello Jackie

this is a follow up to an email exchange we had a few days ago.

If you have an option on a house and do a highest bidder sale and are successful in securing an end buyer, how do you extract your profit spread without having to resort to using transactional funding, paying two closing cost and incurring other costs in doing double closings.

you said that you are still able to use your end buyers funds to close the deal, with title transfering from the seller to the end buyer.

can you please explain how you are able to do this in todays market given the stricter underwriting guidelines.

[Nathan Kenny]

Nathan Kenny

Thanks Jackie for the quick response

this method of closing option deals, what do you say to your escrow or title company so that they understand and permit it?

i mean, you submit your option contract, purchase and sales contract between seller and buyer to title company, does the title company just know that you are getting paid to clear title or do you have to explain how you are getting paid?

can this fee to clear title work on financed buyers or only cash buyers?

this is where the rubber meets the road, folks….. gives you the ability to control any real estate with little money down, and when you find your end buyer, use his/her funds to close the deal, you just pick up the spread….

[Anonymous]

Anonymous

There are several ways to do it but my favorite way it to

get paid to cancel my option so the seller and buyer can go to contract together. My cancel fee is paid at closing and shows up on the HUD-1 to clear title

REsults

no title seasoning
no waiting to get paid
no transactional funding needed

See why I LOVE Options.

[Anonymous]

Anonymous

you submit a form to release/terminate your contract for XXX dollars to the title company
your termination fee is not paid until the seller closes with the buyer

you are making it harder than it has to be