OREGON - wholesale attorney/title company recommendation?

Question

Hi BP'ers

I wanted to wholesale a couple properties in Oregon, but couldn't get conclusive information whether or not if I could. So I went with a double close, but the title company seemed very incompetent to do it.

So I'm looking for recommendations:
1) Any recommendations on an attorney in Oregon who can help close a wholesale transaction?
2) Any recommendations on a title company familiar with double closes? I was working with one who barely knew the process

Thank you

Jay Hinrichs · Answer

you can but that would be illegal In Oregon unless your a licensed agent..  you cannot legal market a property you don't own in Oregon.

but like I said you being from the other side of the boarder your probably not going to get any grief.

but what you do run the risk of is anyone can just go around you since what your doing is not legal..

all the bigger wholesalers who work Oregon all pay cash then resell.. and most wholesale deals are bought at foreclosure auctions.

Jessey Kwong · Answer

@Jay Hinrichs - thank you for your reply. so it's my understanding from your reply "pass through escrows" are another way to say a "double close"?

Simply put, i need to own the property and close on it and get my name recorded on the property by the county, then resell. This process can take several days.So is it possible to put my buyer under contract even before owning the property? just to ensure that I am mitigating my risk and ensuring they will pay for it.

I appreciate all your help

Jay Hinrichs · Answer

Oregon is not an attorney closing state.. you simply need to bring you cash into escrow close then resell.

pass through escrows are not really done there.. title company wants your funds wired in..

also not that you could be touched being out of country.. but selling a property you don't own in Oregon is not legal.

title co. wont care.  however as I stated they are not keen on pass through escrows  so just put your money in first then close and resell.. that's how the locals do it. or get an assignement fee out of escrow.

Jessey Kwong · Answer

Counties including several along the west and along the south?  @Noel Felix III I am assuming you're asking because it is county specific?Thank you for chiming in.

Noel Felix III · Answer

What part of Oregon?