Double closing
Imagine you have a toy that you want to sell to someone who lives far away. But you don't want to send the toy straight to that person because you don't trust them yet. So what do you do?
You find someone you trust, like your friend, who will help you in the middle. Your friend will buy the toy from you and then sell it to the person you want to sell it to. This is called a double closing.
For example, let's say you are selling a house to someone but you don't want them to know how much you are making on the sale. You can use a double closing by finding someone who will buy the house from you, and then immediately sell it to the person you actually want to sell it to. This way, the first buyer gets a small profit and you get the amount of money you wanted for the house without the final buyer knowing.
Double closing is used in real estate transactions, especially when a buyer or seller wants to keep some of the details confidential. It can also be used when the real estate closing process takes longer than expected or when there are questions about the property title. By having a trusted middleman, the process can be smoother and more private.
You find someone you trust, like your friend, who will help you in the middle. Your friend will buy the toy from you and then sell it to the person you want to sell it to. This is called a double closing.
For example, let's say you are selling a house to someone but you don't want them to know how much you are making on the sale. You can use a double closing by finding someone who will buy the house from you, and then immediately sell it to the person you actually want to sell it to. This way, the first buyer gets a small profit and you get the amount of money you wanted for the house without the final buyer knowing.
Double closing is used in real estate transactions, especially when a buyer or seller wants to keep some of the details confidential. It can also be used when the real estate closing process takes longer than expected or when there are questions about the property title. By having a trusted middleman, the process can be smoother and more private.