Hello, Im trying to locate a real estate attorney that can look over my purchase agreement and assignment contract to make sure they're sound. FYI - I downloaded them from the file place here.
If you could recommend a wholesaler friendly title company that would be great also
You need to talk to a few People.
#1) Ron Isgate - Lawyer. He will Help you get flat. his number is 215-396-1020. You can find him at http://www.isgatelaw.com/attorneys/ronald-c-isgate/
#2) Bill Burke - Title Officer. He will help you make sure you are doing it right. 267-885-7405.
In Pennsylvania Assignments are EXPENSIVE. Pa tax code requires 2 transfer taxes to be paid on an assignment... So if in Philadelphia the transfer tax is 4%... Check this out.
100k Purchase Price
Transfer tax is 4k (4% of 100k) plus 4.4k (4% of 110k).
Some title companies will let you get away with not paying the second transfer tax at closing... but when you get caught the money will be owed.
Bill and Ron can explain to you how to do a Novation and get around this stupidity.
Its so funny you would respond to this. I contacted Bill Burke on Friday and he referred you to me. He said that you would be great to speak with regarding wholesaling in the area and that you host some sort of seminar?
I will surely get in contact with the Lawyer you referred and I hope to hear more about you , your work and seminars. @Stephen Chatto
@K.D Neider - Cool.. Bill is a good man! We have stuff all the time! Our next meetup is Wednesday in Trenton, NJ
We meet the First Wednesday of each month.
Actually just had a talk with Bill Burke the other day to get things in line for my first direct mail campaign that has been sent out yesterday. Im also a new wholesaler focusing on some of the greater Philadelphia areas of Montgomery, Chester, and Bucks counties. Would appreciate a chance to speak with you about wholesaling in the area, and also attend one of the meets.
@Marc Oister - Bill Burke is a good man. He does a great Job as a Title Company. Anyhow I do Deals in Bucks Co PA and Mercer Co NJ Mostly. Feel free to give me a call, Or you can come to one of our meetups. I would post the link, but I think that might be forbidden by guidelines. Text me your email and I will let you know about Our Meetup and you can come hangout. Any questions you have I would be happy to help in any way that I can.
Hey Steve, thanks for the good advice about the attorney and title office. Can you send me a link to your meetup in Trenton? My wife's parents are from Yardley so we are in the area sometimes.
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