First of all thank you and this is for informational purpose only not an ad um( John )
GET EDUCATED, Get a company name get a website get an email create a investor profile form and create your procedures and protocols for your buyer's, and start creating ads, start placing ads that you are a supply side wholesaler of reo assets and bulk foreclosure deals.
In being a supply side wholesaler of Reo Assets and Bulk Foreclosure Deals is to create a buyers list, this buyer list will have investors ready to buy properties nationwide or mainly in the midwest at $2,500 to $6,000 on a quitclaim deed or $8,000 to $10,000 on a warranty deed. We don't like doing the diamond states CA,AZ,NV,UT,Ect.. Every body want's still only 20% to 30% below retail market value in those area's unless you buy 300 at a time there a pain to do a REO CIRCUS!
Find your seller of real product make sure they titles or deeds in hand ready to go they can be banks, lenders, hedge fund companies or private sellers looking to liqidated there inventory which give you the oppurtunity to sell the product as cherry pick instead of in bulk.
Once you have the buyer's proof of funds and investor profile form time get the buyer the inventory they requested go to the seller if not in your own inventory and ajust the pricing to reflect what you would like to make on the deal.
After buyer complete's there DD time and choose properties from the inventory you had sent over then you will go into contract will the buyer as the seller using a double closing contract with 3 addendums attached addendum 1 is sign and dated with properties they would like to purchase from the inventory, addendum 2 is the escrow agreement with the title company and the buyer we always use a title company that does allow double closings wet or dry.
Now once they sign addendum 1 and 2 I will call my seller to see if properties on addendum 1 are still available they are if buyer has not took 2 weeks or more to decide as the banks don't sit on these property for long. once I find out from my seller what properties are available on addendum 1 then we write up addendum 3 with the properties that are still available.
Once the buyer signs and date's addendum 3 we have a contract once that is complete I call my seller and have them send me a contract into my company to by the properties thus in the contract with the buyer it states that I am double closing using the my buyers funds to purchase said properties from my seller.
It's refered to as also an A2B B2C transaction in the real estate world if you have any questions please feel free to contact me email@example.com
this and any other discusstion is for informational purpoeses only please contact your attorney or cpa for information reguarding double closings.