I'm not a lawyer, so this isn't legal advice. Check with a lawyer. But: There are also various alternatives to a double closing that will serve the same purpose. You can set up an LLC and move your property into the LLC. Then you simply sell the LLC to someone. The LLC remains the owner of the property; it's the ownership of the LLC, and not the property, that changes. You can use a land trust for the same outcome. Buy a property. Create a land trust. Transfer the property to the land trust. Then sell the land trust.
Hope that helps.
A lot of late night infomercials and RE training courses are preaching this philosophy but quite frankly there are a lot easier ways to make money in RE.
I am not from AZ, so I won't be able to advise you on the double closing.
However the double closing I heard is the ones where a buyer purchases a home at a discounted price and turns right around and sells it for a profit to a second buyer.
Both escrows are closed within a day of each other or on the same day.
The one time I heard of somebody actually wanted to do a double escrow (that's when I first heard of this) is when the transaction was a scam. The principal in this case was also in litigation with a title company.
There are a lot of people out there taking advantage of distressed sellers and unsuspected buyers. Be very careful of what you do â€“ when it is too good to be true, be alert, it might not be something you want to do.