closing reo deals - Posted by rich

import · March 18, 2009, 9:18pm

Posted by RalphL on March 19, 2009 at 04:00:49:

A title company should be able to handle it. It is called a double escrow closing. they will be able to explain the process to you.

import · March 18, 2009, 9:18pm

Posted by rich on March 18, 2009 at 21:18:03:

I am looking to flip reo deals to a end buyer. Since you are not allowed to assign reos everyone tells me I should do a simultaneous closing. Does anyone know exactly how a simultaneous closing works? and are simultaneous closings where you use the end buyer’s funds to fund your deal with the bank legal?

import · March 21, 2009, 6:39pm

Re: closing reo deals - Posted by Virgil Horner

Posted by Virgil Horner on March 21, 2009 at 18:39:52:

you could also make the offer in the name of a land trust and assign
the beneficial interest in the land trust (this would all depend on your
end buyers financing). You could also make the offer in your name and
after your name put “exact vesting tbd”, once you have your new buyer
you ask to insert their name on to the REPC

hope this helps,

Virgil & Lucas
The Transaction Engineers
Web: www.transactionengineers.com
Email: newelement@cableone.net
Phone: 208-308-0703

import · March 20, 2009, 4:05pm

Re: closing reo deals - Posted by James Harris

Posted by James Harris on March 20, 2009 at 16:05:46:

I can help you with your funding issues. Please advise.

import · March 19, 2009, 7:15am

Re: closing reo deals - Posted by IB (NJ)

Posted by IB (NJ) on March 19, 2009 at 07:15:15:

Also, check the archives here. Plenty of information.