Real Estate Agent · Oklahoma City, OK · Member since 2015 · 22 posts · 14 votes
Hey guys! I've been a member of bigger pockets for about a year but this is my first post.
I have gained lots of knowledge from all the great forum posts that this site facilitates. I have recently started an investment real estate company in Oklahoma City and our first avenue of business is wholesaling investment properties.
I was wondering if anyone in Oklahoma City has experience with a title company that does wholesale closings?
I have read and heard that some title companies prefer to not do wholesale deals, double closing, assignment of contracts etc.
Please let me know if anyone can help! Hope everyone has a good week!
- Wougi
Title Representative · Norman, OK · Member since 2016 · 35 posts · 24 votes
9y
Most title companies should be able to do this for you, however I would make sure the escrow officer you're working with has done these before and understands the process (i.e. keeping aspect of the transaction quiet from certain parties, understanding it's the new buyer funding, etc.). The standard owner occupied residential closer may not have experience with these and the commercial closers may be too busy with larger transactions and de-prioritize your closing. So if you can, try to meet the actual closer and make sure you're careful with them.
I am an investor and also an escrow officer at a locally owned/medium sized title company. Most of my closing are for investors and I have done double closings like these before. PM me if you'd like my info. Even if you're closing at another company still feel free to reach out to me - I'm always happy to answer questions or can help with creative solutions that can work from the title company's perspective when need be.
Great Neck, NY · Member since 2016 · 2 posts · 1 vote
9y
Sorry to not answer your question Wougi but I am looking to potentially start a syndication company that invests in out of state properties with high cash-flow. Would you like to connect. Wholesalers are a valuable asset for my kind!
Oklahoma City, OK · Member since 2017 · 7 posts · 2 votes
9y
Hey there and welcome! I've asked this question myself to some people here locally as I am interested in the same thing. I was told any title company can do the work. I'm actually looking to connect with other investors in the area so if you'd like, send me a message and we can exchange phone numbers. Thanks!
Jason
Investor · Moore, OK · Member since 2016 · 12 posts · 6 votes
9y
Oklahoma City Abstract and Title works well with investors. We use the Lake Hefner office. They will do double closings, and you can negotiate good investor discounts if you're doing a lot there.
Chicago Title is also investor-friendly, but I am not sure about double closings.
Title Representative · Norman, OK · Member since 2016 · 35 posts · 24 votes
9y
Most title companies should be able to do this for you, however I would make sure the escrow officer you're working with has done these before and understands the process (i.e. keeping aspect of the transaction quiet from certain parties, understanding it's the new buyer funding, etc.). The standard owner occupied residential closer may not have experience with these and the commercial closers may be too busy with larger transactions and de-prioritize your closing. So if you can, try to meet the actual closer and make sure you're careful with them.
I am an investor and also an escrow officer at a locally owned/medium sized title company. Most of my closing are for investors and I have done double closings like these before. PM me if you'd like my info. Even if you're closing at another company still feel free to reach out to me - I'm always happy to answer questions or can help with creative solutions that can work from the title company's perspective when need be.
Rental Property Investor · Edmond, OK · Member since 2015 · 19 posts · 3 votes
9y
In my experience, I've used Old Republic Title Company at 5627 N Classen Blvd, #101. They're accustomed doing transactions with local investors, and know the process really well. They're also familiar with double closing. My two cents...