Posted by Mr. C on January 12, 2003 at 23:55:03:
Think of it as “flipping a property (or a note) at the closing table”… your buying it, and then reselling it… in a double escrow… using the money from the latter, to pay off the former… while pocketing any differance as your profit.
And yes, it is legal in all 50 states.
Double Escrow - Posted by Joshua Thomas
Posted by Joshua Thomas on January 12, 2003 at 24:54:59:
Is any one familiar with the term “double escrow” and how it works. What I know is that there are two fifferent contracts and two escrow companies. For the purchase of one property. Sounded a little fishy to me but I check around and it is legal in Arizona. If any one has any detailed information on what exactly this is and how it works and why it is used.