Assignment
With an assignment, the wholesaler transfers contractual rights to another buyer. The wholesaler usually does not take title to the property.
Double close
With a double close, the wholesaler or investor actually buys the property in the first transaction and resells it in the second.
Why someone may prefer an assignment
- Fewer closings.
- Often lower closing costs.
- Simpler when everyone is comfortable with the assignment.
Why someone may prefer a double close
- The investor wants to take title.
- The buyer or seller does not want an assignment.
- The assignment spread is large or sensitive.
- The deal structure is cleaner as two separate sales.
Local rules matter. Disclosure, wholesaling, brokerage, and licensing rules vary by state and transaction. Always confirm the structure with the appropriate professionals.
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