ctrmrz31 0 Report post Posted December 12, 2003 Just to clear a few things up for myself. When it's time to close on the deal with the T/B ,The lender makes out the check to the title company which in turn makes checks out to the seller in my behalf as well as makes out a check to me of my profit, the title changes to my hand for a sec. and then goes to the T/B.I am kind of foggy on this. Someone give me their professional opinion on how this works exactly. I had a recent client that needed to know how this worked and I somehow weaseled my way around the question, but he will be back I need your help.Thanks guys!Brandon or Cruz Share this post Link to post Share on other sites
MichaelC 160 Report post Posted December 12, 2003 B/C, there is no one way that a sandwich lease is closed out. The specific procedure will vary, not only from state to state, but from title company to title company.I've been to closings where the buyer and seller aren't in the same office building at the same time. I've been to others where all parties involved are hashing it out in the same room together. (Bad idea, by the way.)Generally, your description of how it goes down is accurate. You might want to call a local title company, speak with one of their closing agents, and explain what you are doing. They can tell you better than most how it will proceed. Share this post Link to post Share on other sites
ctrmrz31 0 Report post Posted December 13, 2003 Thanks for the help Michael!I will get with a local title company and see what they can tell me.Brandon or Cruz Share this post Link to post Share on other sites
