Does any know of any investor friendly title companies in the Columbus, OH area? I called a few and all I get is a "HUH or DUH". All help is appreciated
Story, can you be more specific about what you mean by "investor friendly?" Are you looking to do double close wholesales, or something that's less in the gray area?
I am doing a wholesale deal.
If you are looking to do a double close—i.e., you want to get your buyer's money in escrow and use it to purchase the property from the seller—you're going to have a hard time finding a title company that will allow you to do that. However, if you want to do a back-to-back close—meaning you actually purchase the property first (with your own money or with the help of transactional funding), then sell it to your end buyer in a second transaction—that's a different story. And of course there is the third option whereby you get the property under contract and then assign the contract to another party for a fee.
Does one of those examples match your strategy?
I am having the same problem. I am now having to go with a transactional lender just to get a yes from my attorney that I can do this now.
It cuts into my profit but as of now until i find an attorney and title company that will get on board with me I'll just have to factor it into my pricing.
Corey is correct. Many title companies are requiring A to B transactions to be completed before proceeding with your B to C transactions. Meaning, you cannot use the funds from your end buyer to close the deal from your motivated seller and make a big profit for finding the property.
Calif is doing double closing here but with full disclosure to all parties involved. However, what I experienced when calling out of state title companies (specifically Illinois) they were not familiar with the term double closing. Instead they referred to double closing as an A to B and B to C transactional closing. You may want to find various ways to ask the same question because some will not always understand what you are looking for. Check with First American Title Co.
Oops old post! Sorry, not sure how this showed up in my feed
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