Simultaneous Closes...Reality Strikes
- Topics:
- Property Management
- Tags:
- Process
- Source:
- realestatelink.net
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Overview: One of the most frequently asked questions we hear is about structuring and processing a Simultaneous Close, where money to purchase a to-be-created note is brought to the table at the close of escrow on the original sale of the property. The process is not actually "simultaneous" since the Assignment of the note occurs after the documents in the buy-sell are themselves recorded. It really is "A Moment Right After" Close. However, it's close enough in application, if not in definition, for us to call it "simultaneous" as long as we understand the important distinction for legal reasons. This process is also referred to as "Table Funding." Red more on the same in the article.
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Format: HTML | Date: Jan 2003 | Pages: 1
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