I'm a Newbie and this is my first post. Hopefully, I chose the correct forum. I am trying to organize the processes in my mind and I think I have a good understanding about purchasing a property 30-50% below FMV and then assigning the contract to another buyer (preferably a cash buyer). But, the process gets a little cloudy to me when and how the process of "Closing" actually goes. I haven't found it in Dean's books or in any of the forums so far. Can someone detail the closing process to me. I was a licensed Realtor so I know what happens at closing, but I can't quite grasp how it works with an assigned contract. Which parties actually attend the closing with the Title Company? Of course the original motivated seller and I gather the buyer who the purchase contract was assigned to. Does the investor (me) who actually locked up the wholesale contract and assigned it to the cash buyer (another investor) actually attend the closing? Are all three parties required to attend?
Always striving to move forward toward better times!