What happens at closing on a wholesale deal?
The title company or closing attorney confirms the title is clear, collects the end buyer’s funds, pays the seller the agreed price and any liens, and pays the wholesaler’s fee. Documents are signed, the deed is recorded, and the buyer takes ownership.
Before closing, check that all parties have signed the contract and assignment, the buyer has proof of funds, and the closing date matches your contract.
Keep a copy of the signed documents and the final closing statement with the deal, including the fee you were paid.
Common mistakes
- Starting title work late.
- Not confirming the buyer’s funds before closing day.
- Losing the final closing statement for your records.
More questions
Do I need to attend closing?
Often not in an assignment, since the seller and end buyer sign. In a double close you are the buyer and then the seller, so you sign both.
How does the wholesaler get paid?
The fee is paid from the closing funds, usually by wire, and shown on the closing statement.
What delays a wholesale closing?
Title problems such as liens or missing heirs, a buyer without funds ready, or missing signatures. Start title work as soon as the contract is signed.