With the different Double Close/Assignment Contract constant drama, what about, you call your end buyer, a “Partner?” Or He is your “Financier” he pays for the house, The contract is in your name, and you just quitclaim the property to him, after the close?
I am new to this, and not trying to scam the system, but rather win at their rules, so be kind…
Totally hear you on this. The whole double close vs assignment debate can definitely get messy depending on who you’re dealing with (title companies, realtors, buyers, etc.).
Calling your end buyer a “partner” or “financier” might sound smoother, but it doesn’t really change the structure of the deal. At the end of the day, if they’re paying for the property and you’re just quitclaiming it over to them, most title companies are still going to want to see how and why that’s happening. It can raise questions if it looks like you’re trying to sidestep disclosure or hide your spread.
Also, quitclaim deeds don’t give your buyer much protection. Some buyers might be fine with that, but many (especially serious investors or lenders) want a warranty deed and a clean title transfer—something that’s tougher to do if you’re just quitclaiming it post-close.
Not saying it can’t be done, but in my experience, it’s cleaner to just double close or use an assignment and be upfront about it. The key is finding a good investor-friendly title company that understands what you’re doing and doesn’t overcomplicate it.
Props to you for thinking creatively though—and for wanting to do things the right way. That’s the mindset that wins long term.
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The deeper I get into wholesaling, the more I realize how few people actually understand or even agree on the rules.
I’ve had title companies flat-out refuse to work with me just because I used the word “assignment.” Others seem totally fine until closing day, then suddenly they “need to check with their underwriter” and everything falls apart.
Tried the partner angle once too. Thought it would smooth things over. Instead it just confused everyone even more. The buyer didn’t get it, the title agent was suspicious, and I ended up losing the deal because they thought it was shady.
Feels like you can do everything by the book and still get treated like you’re trying to pull a fast one. I get that some bad actors have made a mess of things, but not everyone out here is trying to run a scam.
Honestly, I’m getting kind of burnt out. Starting to wonder if the juice is worth the squeeze.
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What are the obstacles to double closing? Is it lack of capital or financing for the wholesaler? Or concern that their buyer may back out and they’ll be left holding the debt?