Double closing
Two closings back to back on the same property: the wholesaler buys, then immediately resells to the end buyer. Used when the assignment fee is large or when hiding it is preferred.
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Part 1 of 4
Why a seller cares
A double closing is a wholesaler buying your home and reselling it minutes later to their end buyer. If your contract has a buyer you never meet at the closing table, this may be why.
Part 2 of 4
A simple example
You sell to an LLC at $180,000 on Tuesday morning. At 11 a.m. the same title company closes the LLC's sale to a rehab company at $205,000.
| What you see | What is happening |
|---|---|
| A buyer who is an LLC formed last month | Often a wholesaler |
| A closing scheduled with a second one right after | A double closing; their buyer funds theirs |
| The end buyer's money paying for your sale | Common, and some title companies refuse it |
A double closing is two sales in one morning, and the first price is yours.
Part 3 of 4
What people get wrong
That the resale price is money you were cheated of. It is the price a different buyer paid for a contract, and you agreed to yours.
Part 4 of 4 · where to read next
Where it appears in the sale
What a definition is, and what it isn't
Keighbor is a software company, not a law firm, brokerage, or tax adviser. This is general information, not legal, tax, financial, or real estate advice about your sale. Your situation may differ. Before acting on a contract, disclosure, title, tax, or pricing question, ask an appropriately licensed professional in your state.
Written and researched by Keighbor Research · drawn from the reference glossary · how we research and check what we publish
In your Room, this word explains itself where it appears.
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