Ask Ron – Frank C.

12 Responses to Ask Ron – Frank C.

1. CRES Mandujano says:

   January 20, 2012 at 3:20 am

   question is not very clear but great answer thank you

   Reply
   • Jeff Clayton says:

     March 2, 2012 at 5:07 am

     Frank Carney from MI asks: “I’ve heard that when closing the purchase of residential note and using it to pay off another note that lender’s will allow a simultaneous closing?”
     I can’t make heads nor tails of this question.
     Is Frank talking about buying and selling notes only in this question? And,if he’s purchasing a note there’s no proceeds to pay off anything, right?

     Reply
   • Matthew Hell says:

     February 19, 2013 at 7:55 pm

     Yah the last time I was closing I sweated so much my armpits were soaked. Now I am better and I am very comfortable. I can’t wait till I get to go to a closing because I haven’t done one yet. Thank you ron

     Reply
     • Jesse Toms says:

       August 18, 2016 at 6:49 am

       I think he might be saying if he finds a discounted note that has equity and wants to use the full value of that note to purchase another note?

       Reply
       • Jesse Toms says:

         August 18, 2016 at 6:50 am

         At the same time

         Reply
2. DENISE RUSH says:

   May 21, 2012 at 7:25 pm

   Good answer Ron!

   Reply
3. James Noullet says:

   June 16, 2012 at 12:04 am

   Ron thanks for trying to clear this question up!

   Reply
4. Michael Minnihan says:

   December 3, 2012 at 5:10 pm

   You need to check with your title company about whether or not they will do simultaneous closings.

   Better to do closings with real estate attorneys who have no trouble doing simultaneous closings as long as everything has been fully disclosed.

   Reply
5. Michael Minnihan says:

   January 16, 2013 at 7:54 pm

   Ron is using a clause in his contracts to help assign a contract

   ‘right to assign contract to another entity to close with’

   Reply
   • Jesse Toms says:

     August 18, 2016 at 6:53 am

     The frase “or assigns” after the buyers name on any contract to buy or control real estate.

     Reply
6. Matt Prchal says:

   December 7, 2015 at 8:47 am

   Based on the question, it seems to me that this is the only way transactions close. Once buyer pays off the sellers debt at the time of closing, provided the sale price covers the full debt amount.

   Reply
7. Jesse Toms says:

   August 18, 2016 at 6:56 am

   Or assigns after the buyers name on a contract give you the right to assign the contract right?

   Reply