What is a Simultaneous closing?
Simultaneous closings can benefit the buyer and seller. This works great when a seller has the opportunity to sell a property with owner financing since his/her buyer is not able to secure bank financing. You will be able to get the full appraised value as the sales price, which you would not normally get if your buyer could qualify for bank financing. We would then purchase this note from you at a price that you would normally have sold it for in the first place. You can close on the sale of the property and at the same closing(simultaneously) we will purchase the note from you. You leave the closing table with all your cash and your seller would make all payments to us.FOR EXAMPLE, let’s say you have a property that appraises for $150,000 that you would sell for $130,000if a cash buyer came along. You can sell the property with an owner financed note for the full $150,000 and at closing we would normally be able to pay you in the range of $80,000 at the simultaneous close as describe
