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Double Closing in Bingham Farms
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Get listed hereWhat double closing usually includes
- Two purchase agreements: seller to wholesaler, wholesaler to end buyer
- One title company coordinating both closings
- Funding source for the first closing identified in writing
- Two deeds recorded with the county Register of Deeds in order
- Separate settlement statements for each transaction
- Property Transfer Affidavit filed after each transfer
What drives the cost of double closing in Bingham Farms
- Two sets of closing costs, title fees and recording fees
- Transfer taxes on each transfer
- Transactional funding fees if the wholesaler borrows for the first closing
- Title insurance on one or both transactions
- The spread between the two contract prices
- Delays if the end buyer is not ready to close
- The age of the home: the typical Bingham Farms home was built around 1985, so original parts may be near the end of their life
Before you hire in Bingham Farms
Mid-century and newer systems
Most homes here date from 1985 or later. Original furnaces, water heaters and roofs from that era are well past their service life, so replacement planning matters more than repair.
Michigan basements
Freeze-thaw cycles and clay soils make foundation cracks and wet basements common across Metro Detroit. Foundation and sump pump checks belong on every spring list.
Permits: check with the Bingham Farms building department before work starts.
How to compare double closing quotes
- Ask which title company will handle both closings and call them yourself.
- Confirm how the first closing is funded.
- Read both contracts for inspection and cancellation terms.
- Ask how transfer taxes and title fees are split.
- Get the process explained by an attorney if it is your first double closing.
Other wholesaler services in Bingham Farms
- Assignment Contracts
- Buy and Hold Sourcing
- Cash Buyer Network
- Distressed Property Acquisition
- Fix and Flip Sourcing
- Land Contract Deals
- Off Market Properties
- Probate Property Leads
- Property Value Analysis
- Rental Portfolio Acquisition
- Seller Financing
- Subject to Deals
- Tax Foreclosure Properties
- Vacant Property Sourcing
- Wholesale Deal Analysis
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Double Closing in Bingham Farms: FAQ
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