Investor Friendly Title Company in Seattle, WA

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Investor Friendly Title Company in Seattle, WA

Andrew Tabalbag
Wholesaler · Seattle, WA · Member since 2020 · 6 posts · 1 vote

To fellow wholesalers in the Seattle area (particularly south King County) - who do you use as your closing agent for wholesale deals? I've reached out to a few locations of Fidelity National Title and Chicago Title, but haven't had any success. I'm based out of Tukwila. So far, they're either unfamiliar with wholesale deals (assignments of contract) or unwilling to participate. Any guidance would be helpful.

Thanks!

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Michael HaasBusiness Member
Real Estate Agent · Redmond, 🌧️ Seattle Investor-Agent | 🤑 Helped 400+ Clients Invest in Real Estate | 🏘️ Owns 23 WA Rentals & Airbnbs | 🏗️ Built 5 DADU's | 📈 You Can Do It Too · Member since 2016 · 724 posts · 3k+ votes
6y

I'm an investor and agent, not a wholesaler, but I've been pleased with how the Bellevue office of Chicago title treats investors. They definitely know and are willing to do contract assignments with assignment fees. Have you tried there? 

[email protected]408-439-7873
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  • Michael HaasBusiness Member
    Real Estate Agent · Redmond, 🌧️ Seattle Investor-Agent | 🤑 Helped 400+ Clients Invest in Real Estate | 🏘️ Owns 23 WA Rentals & Airbnbs | 🏗️ Built 5 DADU's | 📈 You Can Do It Too · Member since 2016 · 724 posts · 3k+ votes
    6y

    I'm an investor and agent, not a wholesaler, but I've been pleased with how the Bellevue office of Chicago title treats investors. They definitely know and are willing to do contract assignments with assignment fees. Have you tried there? 

    [email protected]408-439-7873
    HouseHack Seattle | Michael Haas & Team572 Reviews
    WebsiteView Page
    5Reply
  • Andrew Tabalbag
    OP
    Wholesaler · Seattle, WA · Member since 2020 · 6 posts · 1 vote
    6y

    Not yet, but I'll give them a call! 

    0Reply
  • Kenny C.
    New to Real Estate · Puyallup WA · Member since 2009 · 85 posts · 39 votes
    6y

    Please let me know how this goes, I've been looking with no success as well.

    0Reply
  • David WarrenPro Member
    Real Estate Broker · Seattle, WA · Member since 2017 · 16 posts · 4 votes
    6y

    I've never wholesaled a deal. What is the hold-up with title and escrow services? Or why are they not willing to participate? Is there something about the structure of the deal, like maybe a double closing?

    0Reply
  • Beth JohnsonPro Member
    Lender · Renton, WA · Member since 2018 · 215 posts · 216 votes
    6y

    @Andrew Tabalbag

    Attorney's Title in Tacoma

    [email protected]Podcast Guest on Show #210
    0Reply
  • Nghi Le
    Investor / Lender · Seattle, WA · Member since 2014 · 1k+ posts · 730 votes
    6y

    I live in Burien / White Center, not too far from you.

    I feel like there must be something more to what you're asking, because most escrow companies I've worked with, both as an investor and a lender, handle wholesale transactions just fine.  We've probably worked with over 30 different ones in King and Pierce county over the past year.

    Is there something complex or specific that you're looking for your wholesale transactions?  i.e. what are you trying to do?

    I'll give a rep to my main escrow company, First American Title in Seattle.  Look for Sara Levien.

    0Reply
  • Andrew Tabalbag
    OP
    Wholesaler · Seattle, WA · Member since 2020 · 6 posts · 1 vote
    6y

    Most of it is just a lack of reliability. I've called and emailed at least a dozen places, only two of which actually gave me an answer - neither place were willing to participate and I'd only inquired about assignment contracts, not even a double closing. 

    Beth - I'll reach out to them, thanks for the recommendation!

    0Reply
  • Andrew Tabalbag
    OP
    Wholesaler · Seattle, WA · Member since 2020 · 6 posts · 1 vote
    6y

    Nghi - I'm not asking for anything specific, it's just been difficult getting a definite answer. Every office I've called, I get a receptionist and ask for an escrow agent who doesn't answer, so I leave a voicemail. I also email the office asking whether they've worked with wholesalers in the past. No response on a solid 80% of those voicemails/emails, even when I follow up and leave another voicemail a few days later. The two offices that did get back to me said, and I quote, "This is not a type of closing we would participate in. Good luck with your search" and "sorry, we can't help you."

    0Reply
  • Nghi Le
    Investor / Lender · Seattle, WA · Member since 2014 · 1k+ posts · 730 votes
    6y

    @Andrew Tabalbag That is disappointing.  It's been a busy month for a lot of escrow companies right now.  They do take active transactions/deals much more seriously.  I'd suggest asking someone who has an existing relationship with an escrow officer to make an introduction vs randomly calling/e-mailing them.

    But if you're just planning to have an assignment contract in addition to a PSA, you should be fine with most escrow companies. Beth's recommendation works well with double-closings too I believe, which most escrow companies are not friendly to. But most people don't do double-closings here in WA due to the excise tax; a more common strategy is to just "sell" an LLC that has the property tied up.

    0Reply
  • Fern Bacungan
    Investor · Seattle WA · Member since 2019 · 11 posts · 10 votes
    6y

    Andrew,

    I've worked with Chicago Title on my last wholesale deal (I purchased a property from a wholesaler) and they worked out fine for me.  Keep in mind, escrow agents exist to fulfill the contractual agreement for all parties.  You may have talked to someone in the front office who may not know or understand the wholesaling process.  Once it gets to the final closer's desk, that person will know exactly what to do as long as you have all the paperwork is in order. If not, a simple explanation wil

    I'd suggest using NWMLS forms so that the escrow agent knows it's official documentation -  Form 21, (Residential PS Agreement) and Form 32 (Assignment of Buyer's Interest). Most real estate agents have ready access to this form. If you need a black form, let me know.

    3Reply
  • Imaan PourPro Member
    New to Real Estate · Bothell, WA · Member since 2016 · 6 posts · 1 vote
    6y

    @Andrew Tabalbag, let me know how the Bellevue office went for you. I’ve tried calling a few different Locations and they didn’t seem to have a clue.

    0Reply
  • MICHAEL CRAIGWELL
    Irving, TX · Member since 2014 · 2 posts · 0 votes
    2y
    Quote from @Fern Bacungan:

    Andrew,

    I've worked with Chicago Title on my last wholesale deal (I purchased a property from a wholesaler) and they worked out fine for me.  Keep in mind, escrow agents exist to fulfill the contractual agreement for all parties.  You may have talked to someone in the front office who may not know or understand the wholesaling process.  Once it gets to the final closer's desk, that person will know exactly what to do as long as you have all the paperwork is in order. If not, a simple explanation wil

    I'd suggest using NWMLS forms so that the escrow agent knows it's official documentation -  Form 21, (Residential PS Agreement) and Form 32 (Assignment of Buyer's Interest). Most real estate agents have ready access to this form. If you need a black form, let me know.


    0Reply
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