Looking for an investor friendly title company.

9 Replies

Im a wholesaler in Indiana trying to find an investor friendly title company in Grand Rapids. I talked to a couple of companies and both did not seem to know what I was talking about as far as assignment of contracts or wholesaling is concerned. Any recommendations?

Pedro, as you probably know, a lot if not all mortgages have a due on sale clause that don't allow an assignment.  Probably why they are clueless because they dont see it too often since there are not too many properties that don't have a mortgage. Let me check around and see if i can find a title co. that deals with investors.

@Pedro Oliva - Hi Pedro,

I have not had trouble in Grand Rapids with this.  I've have used multiple title companies without issue... to the point where I just let the seller or buyer pick the title company.

Most people, when you ask them on the phone, won't know what it is you're talking about.  However, if you bring in a solid sales agreement and a separate assignment agreement, they are able to handle it just fine.  Just make sure your documents are legal and good, and explain it while looking at the paperwork.  You should be all set!

And to @Thomas Borrego 's point, what I said only applies to wholesaling deals.  If you're trying to do a subject-to or something like that, it gets more complicated, as you have to send notice to the mortgage company, etcetera.

Perdro, try Sun Title Agency. We've been with them for years and they've always went the extra mile. They have attorneys on staff and can handle the more complex transaction types. 

Are you purchasing / whokesaling addituonal property in Grand Rapids? 

Originally posted by @Thomas Borrego :

Pedro, as you probably know, a lot if not all mortgages have a due on sale clause that don't allow an assignment.  Probably why they are clueless because they dont see it too often since there are not too many properties that don't have a mortgage. Let me check around and see if i can find a title co. that deals with investors.

 I'm not sure how this would effect getting it under contract and/or closing?  Since the loan would be paid off at closing.

Just getting it "under contract" wouldn't cause the due on sale clause to be triggered, correct?

Shawn, you are correct.  I read the original post wrong, for some reason i thought he was talking about an assignment of a mortgage not a PA.  

@Wes Emert Im looking to help a friend wholesale properties in the GR area, and wanted to find a title company the was well versed in assignments before putting anything under contract.

Hands down is Essential Title.  Ask for Deanna, and tell her I sent you.  You will not regret it.  Small company that will work around the clock for you

I'm over in muskegon looking to wholesale in fruitport spring Lake area. Is it wise and or legal (does County of purchase affect where the title company has to be?) to use a company from GR or should I try something closet to my target area or is it a matter of preference?

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