I’m new to wholesaling before I dive into it I want to make sure I have everything planned out. Can someone please give me the best title company in NY or how do I find one? And let’s say the homeowner lives in Chicago but he has a house in NY he wants to sell, how can that effect the closing process. THANK YOU! STAY HUSTLING💪🏻💪🏻💪🏻
Hi Marcin, As far as your first question here in New York you will have to find a Real Estate attorney that will handle dealing with any title issues. Also looking for a Attorney myself to make sure I am doing everything legally here in the state. Will keep you posted when I find one.
But that’s the thing I heard you don’t need an attorney you just have to make sure your contract is in legal terms with the state your in. You can deal with the title company personally instead of having to pay extra for an attorney.
Am I right or wrong? I don’t know everything YET but to my knowledge that’s what I know so far.
You can send the seller the contract through DocuSign, email or FEDEX. Which ever they prefer. A title company that are familiar with Wholesaling in NY and NJ that I have used is Riverside Abstract, LLC (Bigger pockets don't allow phone numbers being posted so look them up).
You don't need an attorney but having one to explain the terms on the contract to your seller or sellers lawyer is important. Especially if they are not investor friendly, meaning they never went through a wholesale (assignable) agreement. If your sellers lawyer never did one you will lose that deal especially if you don't have a Lawyer that will explain. Plus a lawyer will make sure your contract has specific clauses that protect you. If you got a Motivated seller you got to pull the trigger ASAP even though you don't know everything because the seller can find another buyer or investor. You will learn as you continue getting more deals and investing in yourself (Knowledge). If you need more help just send me a msg. I already accepted you on a previous message. If these where golden nuggets for you I will appreciate a vote. Votes are similar to "likes" on Facebook. When someone agrees or likes what you write, they will "vote" on your post.
You have to click on the votes tab number and it will add your vote. Wish you the best!
Welcome to BiggerPockets!!
Keep in mind in NY, unlike NJ, title is settled with the title company. There is no need for an attorney. One may be useful as my colleagues have stated for terms and explanations.
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