Hey BP community!
So, I'm a newbie investor from North Jersey. In terms of closing deals, I've heard that the North Jersey "model" is typically to close with an attorney, while in South Jersey, people typically close with a title company. Although, I've also heard that investors in North Jersey have been closing with title companies more often as of recently. What is your take on all this? What is your preference and why?
And, importantly, can anyone recommend any good investor-friendly attorneys and title companies in our area?
I'm in Essex county about to close my first deal with a partner and wondering about a good investor-friendly attorney as well.
Your local REIA's will be the source of the referrals you will need for team members and local info. Look up the club site call club officials and listed vendors.
Even in North Jersey most closings these days are performed by a title company working in conjunction with an attorney. Usually the title company charges a small administrative fee for the service when they have the policy for the purchaser/bank on the transaction. Ideally, the fee you pay your attorney should reflect the assistance they receive from the title company. Once you find your "investor-friendly" attorney they should be able to provide you with the names and contact info of the title people they work with.
hello Account Closed welcome to BP
Thanks for your response everyone. I will look at my local REIA.
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