Assignment
Lock up the house, assign the contract to a cash buyer and collect your fee, with the purchase and assignment templates on the deal.
Learn about Assignment
Double Close
Buy the house and resell it in two back-to-back closings, with both sides of the deal on one record.
What It Is
In a double close you actually buy the house from the seller, then sell it to your end buyer, usually the same day and at the same title company. There are two closings and two sets of closing costs, and you need money for the first purchase for a few hours, often from a transactional lender. Investors use it when the contract cannot be assigned, when the buyer's lender will not accept an assignment, or when they would rather not show their spread to either side.
How Propulator Handles It
- One record for both sidesThe deal links the seller and the end buyer as contacts, with the stage, the contract price and the closing date beside them.
- Log every call and noteCalls, notes, tasks and stage changes land on the deal's activity log, so anyone on your team can pick it up.
- Sign the purchase sideSend the purchase agreement and the wholesaler disclosure addendum for e-signature, filled in from the deal.
- Bring your own resale contractWrite the contract for the second closing as your own template, with merge fields from the deal. Propulator does not work out double close costs or arrange transactional funding. Your title company handles both closings.
Deal record
On the deal
StageUnder Contract
SellerContact linked
End buyerContact linked
Contract price$142,000
Documents
Purchase agreementSigned by all
Wholesaler disclosure addendumSigned by all
Resale contract, your templateDraft
Sample numbers for a demo property.
Both Closings on One Deal
Start the deal from a property or an analysis. The seller, the end buyer, the activity log and the documents stay together while it moves across your pipeline.
Templates you write sit beside the samples and fill in the same way, ready to send for e-signature on any phone.
Related Deal Types
Subject-To
Take over the seller's existing loan, with the cash to the seller, the payment and your fee worked out first.
Learn about Subject-To
Long-Term Rental
Estimated rent against vacancy, repairs, management and the loan, so you know if it cash flows before you call.
Learn about Long-Term Rental