Hi everyone,
I have done some investing and I am about to do some options.
My question is this (and some may think this silly)
If I option a house and flip it, and I only want a small amount, say $2000, and I am not using my own money...
When I flip the house to another investor and do a double closing, what about the closing costs that I would have to pay when I own the property for all of an hour or two?
Would I have to write a check out for the amount of the closing costs? Or would my lawyer work that all out in the figures and take that money from my buyer?
Sally

What do you mean by you "only want a small amount"? A small amount of what?

I would assume a title company could handle the details of the closing so that you wouldn't have to write a check, but it could depend on the situation.

there is a house I want to option. When I flip it to another buyer, I will only sell it to him for about $2000 more then I bought it. So, I would pocket that $2000.
Would I still have to pay the closing cost out of my own money? Or would that all be worked out with the double closing and with buyer paying me all cash for the house.

I would think all of those details could be worked out by your lawyer. I wouldn't think that you would both have to write a check for the amounts.

It might depend on state laws, and also could depend on whether the loans were from the same bank and/or the title company was the same.

I di not see an answer as to who pays the closing costs when I sell. Can someone enlighten me?