San Marcos, TX · Member since 2015 · 23 posts · 3 votes
When wholesaling, once I get a property under contract with the seller should I take our contract to the title company immediately? Or do I find a buyer first and take P&S and Assignment contracts to title company at the same time?
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
11y
@Account Closed You can do it either way. many wholesalers start tile work and make the end buyer use their title company. I would tend to go that way as I want to use a title company that won't screw it up. Most Title Companies tend to work with homeowners not investors. Those often don't know what to do with an investor deal.
However if you are new and selling to an experienced investor they may know better which title company to use.
Homeowner · Signal Hill, CA · Member since 2015 · 521 posts · 70 votes
11y
wondering if either an Attorney or Escrow holder cuz usually its coordinated with those parties as included in their cover/alacarte fees, least round her
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
11y
@Account Closed You can do it either way. many wholesalers start tile work and make the end buyer use their title company. I would tend to go that way as I want to use a title company that won't screw it up. Most Title Companies tend to work with homeowners not investors. Those often don't know what to do with an investor deal.
However if you are new and selling to an experienced investor they may know better which title company to use.
Real Estate Coach · New Zealand / USA · Member since 2014 · 296 posts · 82 votes
11y
@Account Closed . . . usually in the Title Co's escrow account - and released, with all other funding, to the interested parties when the transactions are finalized.
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
11y
Originally posted by @Account Closed:
Also, any non refundable consideration to seller is held by the title company, correct?
That depends on what you negotiate. When I write a contract to sell I like to hold the deposit myself. When I am buying I certainly don't want to give it to the seller as I may never get is back. With listed properties it is normally held by the broker. But it is all up to the parties to the contract to decide. The broker is NOT party to the contract and has NO say in the matter.