Out of State Title company
Hi all, I am new to wholesaling and have a question about title companies.
If I find an investor friendly title company in California that works with wholesalers would that same title company be able to help me close a wholesale transaction if the property is out of state?
I am curious because after doing research it seems like virtual wholesaling has more opportunity than just sticking to my local market given the fact that many people are currently moving away from California and house prices are very expensive here.
Would it be smarter to just find a title company in the market that I am trying to wholesale in as opposed to one that is closer to me?
Any help is much appreciated!
@Will Little yes, find one in the area that you have the property. I use First American Title and they are pretty big.
Good Investing...
Will,
If your Title Company in California is licensed in the State that the property is located in, they can most likely handle the deal. However, most Title Companies are only licensed to handle deals in one or two nearby States.
My firm is located in Maryland, but we are also licensed in DC, Virginia, Pennsylvania, New Jersey, and Florida. Due to State regulations and laws, it's difficult to find a Title Company that can handle deals in every State (specifically Wholesale deals). Hope this helps!
@Will Little if you have an investor friendly title company in CA that is licensed in the states that you are considering, then you should definitely use them if you like them. Most title companies are not licensed nationwide so the chances that you find someone you like in CA that can operate in different states is slim. We fund nationwide and have awesome title companies or closing attorney's in every state. If you know which markets you are considering shoot me a pm and I'd be happy to give you a the names of some investor friendly title companies in those areas.