Real estate Agent and double closing

[beautifullife]

Hi,

I am a real estate agent /investor in CA. I heard that double closing is in violation of real estate law. For example, if I buy properties from a seller, and find a buyer before closing, then I do a double closing or simultaneous closing. I do disclose to both sides that I am also an agent, but in this case I'm also the principle since the property was deeded to my title.

Is this in violation of DRE ethic and code? I tried contacting DRE but they are clueless suggest I should talk to a lawyer.

 

[Michael Wechsler]

Originally posted by beautiful_life
Hi,

I am a real estate agent /investor in CA. I heard that double closing is in violation of real estate law. For example, if I buy properties from a seller, and find a buyer before closing, then I do a double closing or simultaneous closing. I do disclose to both sides that I am also an agent, but in this case I'm also the principle since the property was deeded to my title.

Is this in violation of DRE ethic and code? I tried contacting DRE but they are clueless suggest I should talk to a lawyer.

I'm don't know the answer to this question and have heard that flipping can be lawful and that double contracting where one provides fraudulent information to a lender is unlawful.