Double Closing

	Double Closing A double closing is the simultaneous purchase and sale of a real estate property involving three parties: the original seller, an investor (middleman), and the final buyer. The underlying reasons for having a double closing vary. The most pressing and usual reason is to allow the middleman to use the purchasers funds to acquire the property from the original seller. Another common reason for a double closing is to conceal the identity of the purchaser or seller. Typically, a real estate investor first enters into a contract to purchase a property and then subsequently (before closing the purchase) enters into a contract to sell the property (hopefully for a higher price). The investor then utilizes a double closing to close both transactions at approximately the same time. The mechanics The mechanics of a double closing vary, depending on who the buyer and seller are, who is providing the financing, and who is conducting the closing. In the simplest form of double closing, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]
	HUD-1 The HUD-1 Settlement Statement is a standardized mortgage lending form in use in the United States of America on which creditors or their closing agents itemize all charges imposed on buyers and sellers in consumer credit mortgage transactions. The HUD-1 (or a similar variant called the HUD-1A) is used primarily for reverse mortgages and mortgage refinance transactions. The reference to 'HUD' in the form's name refers to the Department of Housing and Urban Development. Federal regulations require that unless its use is specifically exempted, either the HUD-1 or the HUD-1A, as appropriate, must be used for all mortgage transactions that are subject to the Real Estate Settlement Procedures Act. Prior to October 3, 2015, the form was used in closed-end consumer credit transactions that were secured by real property or cooperative units. But as of that date, the TILA/RESPA integrated disclosure (TRID) rule issued by the Consumer Financial Protection Bureau The Consumer Financial ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]
	Double Escrow Double escrow is a set of real estate transactions involving two contracts of sale for the same property, to two different back-to-back buyers, at the same or two different prices, arranged to close on the same day. At close of escrow An escrow is a contractual arrangement in which a third party (the stakeholder or escrow agent) receives and disburses money or property for the primary transacting parties, with the disbursement dependent on conditions agreed to by the transact ..., all participants, lenders, sellers, buyers and brokers are informed of all parties involved and all monies that change hands. For example, a double escrow might be arranged in which Alpha sells Greenacre to Beta, the sale to close at 10:00 am this morning; and Beta then immediately sells Greenacre to Gamma at 2:00 pm this afternoon. Because the two escrows are arranged to close back-to-back on the same day, they are regarded as one "double escrow." If the underlying purpose of the double escrow is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]
	Property Law Legal Terminology Property is a system of rights that gives people legal control of valuable things, and also refers to the valuable things themselves. Depending on the nature of the property, an owner of property may have the right to consume, alter, share, rent, sell, exchange, transfer, give away, or destroy it, or to exclude others from doing these things, as well as to perhaps abandon it; whereas regardless of the nature of the property, the owner thereof has the right to properly use it under the granted property rights. In economics and political economy, there are three broad forms of property: private property, public property, and collective property (or ''cooperative propert''y). Property may be jointly owned by more than one party equally or unequally, or according to simple or complex agreements; to distinguish ownership and easement from rent, there is an expectation that each party's will with regard to the property be clearly defined and unconditional.. The parties may expect th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]