real estate


Question by  Christina (18)

How does a simultaneous closing or a wrap around mortgage work?

I will have a simultaneous closing, a wrap around mortgage on my next home loan.


Answer by  jimbo69 (32)

a simultaneous closing is where one party enters into a contract to purchase a property from a seller. That person then makes a contract to sell the property to another buyer. Both contracts are entered into an escrow company to close on the same day.

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