I learned to get a title search done when wholesaling. I recently was told that the buyer should pay for it and not the wholesaler because the buyer will most likely do it anyway even if you had it done. The wholesaler that I heard this from has 8 years experience in wholesaling and is a licensed real estate agent. Is this good advice or should I still pay for my own title searches after I get the contract?
Generally the buyer will order their title search @Account Closed as part of the purchase process. If you order your own, you will have to pay for it yourself and if the buyer doesn't close, you will have paid for the search. The plus side is you will find out what liens or defects there are on title. If you are just wholesaling it, I wouldn't pay for the search. Let the end buyer do that.
Thanks @Dan Barli. How do I let the buyer know to pay for the title search? Do I put it as a clause in the contract when assigning it or do the buyer generally know he's paying for it?