How should a title company or closing attorney work a Brittco double close?
Brittco is the lender on the investor’s purchase. The closer confirms the double close, receives the purchase wire, and pays the loan from the resale. Same-day payoff is the 1% fee. Payoff within 7 calendar days is the 2% fee.
What does Brittco ask the closer to confirm?
Five practical confirmations keep the wire order clear.
- You can insure or close a double close on this property.
- You have both contracts, or you know which one is still outstanding.
- You can receive the wire and show it on the A-B disbursement.
- You can pay the loan off from the B-C proceeds in the order your underwriter requires.
- You will send wiring instructions and a draft settlement statement before the day of closing.
Does the state change who the closer is?
Often, yes. Many states use a title company. Others use a closing attorney, sometimes with a title company as well. Each published state page describes the local custom in plain language. Brittco works with the office that is actually closing.
Missouri and Kansas are the launch states named on the homepage. Start with those pages when the property is there. Other Yes states are linked from the states index.
How should a closer reach Brittco?
Email john@brittcocapital.com with the file name and the closing date in the subject. Borrowers should still use the request form so the property state is checked before a file is opened.
Where should you go next?
Have a double close on the calendar?
Send the property, the amount, and the two closing dates. Same-day is 1%. Within 7 calendar days is 2%.